EDISON, N.J. - Thursday, December 17th 2015 [ME NewsWire]
(BUSINESS WIRE)-- J.M. Huber Corporation, through its Huber Engineered Materials division, has reached an agreement to acquire the Martinswerk mineral flame retardants and specialty chemicals businesses of Albemarle Corporation (NYSE:ALB). The transaction is subject to customary closing conditions and is expected to close in early 2016.
The Martinswerk business will become part of HEM’s Fire Retardant Additives (FRA) business unit. The following product groups are included in the acquisition:
Martinal® precipitated and ground alumina trihydrate
Magnifin® premium precipitated magnesium hydroxide
A variety of specialty chemical products:
Martifin® specialty hydrates for paper
Martoxid® aluminum oxide primarily for ceramics
Pergopak® flatting agents primarily for coatings
Compalox® granulated activated alumina
Acquiring these product lines complements Huber’s existing portfolio of fire retardants and smoke suppressants while expanding its geographic presence and reach globally. As part of this transaction, Huber will also acquire a 50% position in Magnifin, a joint-venture at Breitenau, Austria, which produces magnesium hydroxide.
The acquisition marks the fourth and largest addition to HEM’s Fire Retardant Additive business in the last five years and is another exciting step in the unit’s continued growth. Earlier this year, Huber purchased the Safire® nitrogen and phosphorous flame retardant technology from Floridienne Group and Catena Additives. In 2012, Huber bought the specialty hydrate flame retardant business from Almatis and in 2010, the Kemgard® flame retardant and smoke suppressant business from Sherwin Williams.
HEM has been a trusted supplier of flame retardants and smoke suppressants for more than 30 years and produces value-added alumina trihydrate, magnesium hydroxide, molybdate compounds and nitrogen and phosphorus products for a variety of end-use applications, including reinforced polyester molding and pultrusion, engineering thermoplastics, roofing, silicone rubber, wire and cable, coatings and carpet backing.
About J.M. Huber Corporation (www.huber.com) J.M. Huber Corporation, headquartered in Edison, New Jersey (U.S.), operates a portfolio of companies with a focus on its core engineered materials businesses. Founded in 1883, today Huber is one of the largest family-owned companies in the U.S. The diversified, multinational company creates products that are used in a broad range of consumer and industrial applications, including oral care, personal care, food, beverage, pharmaceuticals and building materials.
About Huber Engineered Materials (www.hubermaterials.com) Huber Engineered Materials, headquartered in Atlanta, Georgia (U.S.), is a global business focused on engineered specialty ingredients that enhance the performance, appeal and processing of a broad range of products used in industrial and consumer-based applications. With an expertise in inorganic materials, it has a portfolio of high value products: specialty silicas and silicates, alumina trihydrate, magnesium hydroxide, molybdate compounds, and industrial, food and USP grade calcium carbonate.
About Albemarle Corporation (www.albemarle.com) Albemarle Corporation, headquartered in Baton Rouge, Louisiana (U.S.), is a specialty chemicals company with positions in attractive end markets around the world. Albemarle develops, manufactures and markets technologically advanced and high value added products, including lithium and lithium compounds, bromine and bromine derivatives, catalysts and surface treatment chemistries used in a wide range of applications including consumer electronics, flame retardants, metal processing, plastics, contemporary and alternative transportation vehicles, refining, pharmaceuticals, agriculture, construction and custom chemistry services.
J.M. Huber Corporation
Robert Currie, 732-603-5746