Albemarle Corporation has agreed to sell certain assets to SI Group, a global developer and manufacturer of chemical intermediates, specialty resins, and solutions. Included in the transaction are Albemarle’s antioxidants and ibuprofen and propofol businesses and assets, with manufacturing sites in Orangeburg, South Carolina and Jinshan, China; and Albemarle’s antioxidant product lines. Certain applications and technical support capabilities in Shanghai, China and Baton Rouge, Louisiana will also be included in the transaction. 

Terms of the transaction were not disclosed.The acquisition is subject to customary closing conditions and is expected to close later in 2014.

Source: Albemarle