Albemarle updating its plan to push revenue beyond $5B in next 3 years

Baton Rouge-based specialty chemical developer and maker Albemarle Corp. says it will update its Vision 2015 strategic plan—which outlines the company’s plan to grow revenue to more than $5 billion, with earnings potential in excess of $9 per share, by 2015—at its investor conference this morning in New York City. “Vision 2015, our five-year plan to double the size of our business, is predicated upon our ability to leverage our core strengths to drive organic growth and expand into adjacent markets,” says Albemarle CEO Luke Kissam in a news release. “Our businesses are well-positioned to provide innovative solutions to the challenges and opportunities presented by a multitude of long-range trends impacting the globe, including population growth, technology, consumerism and resource management. Our strategic positioning, operational discipline and financial strength give us confidence that Albemarle is poised to achieve our objectives.” Albemarle announced last week plans to exit its underperforming phosphorous flame retardants business. The move is expected to boost 2013 earnings by 10 cents to 15 cents a share.