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Jiangxi and Sichuan   Long-term customer supply agreements

Albemarle completes acquisition of lithium salts production assets in Asia

Albemarle CorporationAlbemarle Corporation has completed the acquisition of the Jiangxi Jiangli New Materials Science and Technology lithium business for approximately $145 million.

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The transaction includes manufacturing assets and supporting business functions located in both Jiangxi and Sichuan, China focused on the production of battery-grade lithium hydroxide and lithium carbonate.

"This acquisition, which combines Jiangli New Material's manufacturing excellence and Albemarle's leading resource position, will accelerate Albemarle's ability to meet our lithium growth plan," said David Klanecky, vice president of Albemarle's Lithium Division.

Collectively, the Jiangli New Material assets have a total lithium salts capacity of 15,000 MT/year.

Albemarle has already completed engineering and is in the construction phase of an expansion project at Jiangxi to create an additional 20,000 to 25,000 MT/year of lithium hydroxide capacity.

This expansion, which is expected to begin production in 2018, will be used to satisfy long-term customer supply agreements.

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