RICHMOND, Va. (April 30)—Specialty chemical manufacturer Albemarle Corp. has signed an agreement in principle to buy Martinswerk GmbH, a manufacturer of mineral-based flame retardants for rubber and plastics and other products, for about $44 million, according to an Albemarle news release. The purchase includes Martinswerk's headquarters facility in Bergheim, Germany, as well as its 50-percent share in Magnifin Magnesia Produkte GmbH in St. Jacobs/Breitenau, Austria. Martinswerk had sales of about $100 million in 2000, according to Albemarle. Based in Richmond, Albemarle serves the polymer, surfactant, pharmaceutical, agricultural and other markets.
Albemarle agrees to buy flame retardant maker for $44 million
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