Albemarle to Raise FCC Catalysts Prices Globally

AMERSFOORT, The Netherlands, Nov. 29 /PRNewswire-FirstCall/ -- Albemarle Corporation will increase pricing for its fluid catalytic cracking (FCC) catalysts by $400 per metric ton, on a global basis, effective immediately, or as contracts allow.

"Our FCC catalyst products add substantial value to our refining customers' operations," said Harm Scheepstra, Albemarle's FCC global business director. "This price increase is necessary in order to restore margins to a level where the business can be sustainable while meeting our customers' needs. Over the years, margins have continued to decline while the expectations of our refining customers have increased, both in terms of product innovation as well as service and support. The recent increases in energy and raw materials costs stemming from the storms that hit the US Gulf Coast have aggravated this situation. The previously announced surcharges that refiners have agreed to pay are helping us to counteract these dramatic increases in costs and their understanding is appreciated. However, these surcharges are of a regional and temporary nature and are unable to correct the longstanding deterioration of margins experienced over a time period when supply has been tightening."

FCC catalysts are used in virtually all petroleum refineries and are essential for the production of transportation fuels.

Albemarle Corporation, headquartered in Richmond, Virginia, is a leading global developer, manufacturer and marketer of bromine, bromine derivatives, and other highly engineered specialty chemicals for consumer electronics; petroleum and petrochemical processing; transportation and industrial products; pharmaceuticals; agricultural products; and construction and packaging materials. The Company operates in three business segments -- Polymer Additives, Catalysts and Fine Chemicals, and serves customers in approximately 100 countries. Learn more about Albemarle at http://www.albemarle.com/ .

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.