23 August 2016
ABOUT JIANGXI JIANGLI SCI&TECH
DETAILS
announced today that it has signed
a definitive agreement to acquire
the lithium hydroxide and lithium carbonate
conversion assets and
supporting business functions
currently operated by
The transaction is expected to close by
the end of the first quarter of 2017,
subject to regulatory approvals and
other customary closing conditions.
The transaction includes manufacturing assets
located in both
focused on the production of
battery-grade lithium carbonate and lithium hydroxide.
Jiangli New Materials currently tolls
lithium hydroxide and lithium carbonate
for Albemarle utilizing spodumene
from Albemarle's Talison joint venture in Australia.
Collectively, the Jiangli New Material assets
have a total lithium salts capacity of 15,
with the ability to expand as needed
to support Albemarle's growth strategy.
vice president of Albemarle's Lithium Division
"We believe this transaction will further solidify
Albemarle's leading position in the lithium industry,
and accelerate our ability to meet
our strategic goal of capturing
50% of the growth in the lithium industry,"
"This transaction will enable us to supply premium
lithium salts to an expanded global customer base."
Mr. Deng Zhiling,
Chairman of Jiangli New Materials
"Jiangli has built a solid reputation on
consistently manufacturing high-quality lithium salts,"
"This transaction is an opportunity for Jiangli
to create additional value for the lithium industry
in
SOURCE
Media:
Susan Richardson,
(980) 299-5672,
Susan.Richardson@albemarle.com
Investor Relations:
Matt Juneau,
(225) 388-7940,
Matt.Juneau@albemarle.com
WWW.CHEMWINFO.COM BY KHUN PHICHAI
