Now that Baton Rouge-based specialty chemical maker Albemarle has completed its $6.2 billion cash and stock acquisition of New Jersey-based competitor Rockwood Holdings Inc., the company is making moves to realign its global business units by the end of the first quarter.
The company—which is now among the world’s largest producers of lithium, the lightweight metal used in everything from lubricants and medicines to rechargeable batteries for iPads and electric cars—will restructure into three units: Chemetall Surface Treatment, Refining Solutions and Performance Chemicals.
“This organizational structure will help us achieve our goal of growing faster and performing at even higher levels, and help accelerate the identification and achievement of strategic synergies beyond the identified cost synergies,” says Albemarle CEO Luke Kissam in a press release issued this morning. “The new company will be structured to leverage its complementary fit, especially between lithium and bromine, allowing us to capitalize on our long-term lithium strategy while providing immediate scale and ability to leverage its similarities with bromine.”
The company also announced the executives who will lead the three new global business units. Joris Merckx will serve as president of the Chemetall Surface Treatment unit, while Silvio Ghyoot will oversee the Refining Solutions unit as president. Michael Wilson will serve as president of the Performance Chemicals unit.
Albemarle says its Chemetall Surface Treatment unit will continue to supply specialty chemicals with a focus on processes for the surface treatment of metals and plastics. The Refining Solutions unit will consist of Albemarle’s heavy oil upgrading and clean fuels technologies businesses. The Performance Chemicals unit will combine the company’s new lithium, aluminum alkyls and derivative catalysts businesses with its existing Performance Chemicals unit. Each unit will have a dedicated team of sales, research and development, process engineering, manufacturing and sourcing, and business strategy personnel.
