Albemarle says sale of assets to SI Group was due to a need to consolidate The company said consolidation and/or integration was needed to drive profitability. Expects natural gas to Jordan Bromine Company to be start around 2017. Expects to continue to enter into accelerated share repurchases in the next few quarters, including a $100M share repurchase in May, completed by July time frame. Targets to reduce working capital by $100M by 2020. Sees FY14 CapEx to decline to $100M-$125M. Comments taken from Q1 earnings conference call.
Albemarle to increase prices of fluid catalytic cracking catalysts by 10% Albemarle announced that it will increase prices of its fluid catalytic cracking catalysts by 10%, effective March 15, or as contracts allow.