Buying flame retardants
23 Jun 2003
Albemarle is to acquire Rhodia's global organo-phosphorus and ammonium polyphosphate flame retardants business.
The business generated sales of around 60 million Euros in 2002 and employs approximately 90 people.
As part of the transaction, Albemarle will acquire Rhodia's production site in Avonmouth in the UK.
Rhodia will also supply Albemarle with Antiblaze flame retardants and intermediates from its plants in Charleston, SC, and Oldbury and Widnes in the UK.
This transaction, which is expected to be completed in the next three to six weeks subject to regulatory approvals, forms part of Rhodia's strategy to make targeted divestments of non-core businesses and reduce its net debt/EBITDA ratio.
