23rd January 2019

ALBEMARLE COMPLETES CHEMETALL SALE

Albermarle Corp. has announced successful completion of the previously declared sale of its Chemetall Surface Treatment business and related assets to BASF, for proceeds of approximately US$3.2-billion. The price is subject to typical adjustments with respect to certain pension liabilities, cash, working capital and indebtedness.

Luke Kissam, chairman, president and CEO, stated, "We are very pleased to complete this transaction, which will accelerate our transformation into a company focused on powering increased energy efficiency around the world  through our leading lithium and refinery catalysts businesses. We appreciate the contribution that the Chemetall Surface Treatment team has made to Albemarle over the last two years. We are certain that BASF will be an excellent steward of this outstanding business."

Albemarle Corp., headquartered in Charlotte, NC, is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. It employs approximately 4,100 people and serves customers in about 100 countries.

www.albemarle.com