Albemarle Corp (ALB) Quote - XNYS | Morningstar

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Maintaining $200 FVE as Albemarle Announces Lithium Acquisition; Shares Fairly Valued

Senior Equity Analyst Seth Goldstein

Seth Goldstein, CFA Senior Equity Analyst

Analyst Note

| Seth Goldstein, CFA | Sep 30, 2021

On Sept. 30, Albemarle announced plans to acquire Guangxi Tianyuan New Energy Materials for $200 million. Tianyuan recently constructed a lithium processing plant with an annual production capacity of 25,000 metric tons.

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Company Profile

Business Description

Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in flame retardants. The company is also a major producer of oil refining catalysts.

Contact

4250 Congress Street, Suite 900
Charlotte, NC, 28209

T +1 980 299-5700

Meredith.Bandy@albemarle.com

www.albemarle.com

Sector Basic Materials

Industry Specialty Chemicals

Most Recent Earnings Jun 30, 2021

Fiscal Year End Dec 31, 2020

Stock Type Cyclical

Employees 5,900

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