The expansion includes a new $15 million catalysts manufacturing unit (CMU), as well as a new $6 million laboratory. The CMU will support Albemarle's production capability in the polyolefins catalyst arena, which are used to make highly engineered plastics.
In addition, 10,000 square feet of new lab space will be used for expanded R&D activities, primarily in the development of new flame retardant additives for use in plastics like those used in computers, copies and televisions.
“We are focused on maximizing Albemarle’s global position to create long-term value and momentum, and expanding our presence in Louisiana is a significant element of this strategy,” said John Steitz, executive vice president and chief operating officer of the company. "The new facilities are a key component of our sustainable business model, and Baton Rouge is an integral part of our continuing growth plan.”
Albemarle moved its corporate headquarters to Baton Rouge in 2008, becoming the state’s fifth Fortune 1000 company. Company executives cited several factors in their relocation decision, including prior success with existing administrative and manufacturing activities in Louisiana, as well as the positive direction of the state and city.
Through a combination of executive relocations and new hires associated with the corporate headquarters move, Albemarle has created 30 new professional jobs in Baton Rouge and a new annual payroll of more than $7 million, which amounts to an average of more than $200,000 a job.
”Last year, Albemarle’s decision to relocate its corporate headquarters to Baton Rouge demonstrated the company’s confidence in Louisiana and the direction of the state’s business environment,” said Louisiana Economic Development Secretary Stephen Moret, secretary of the Louisiana Economic Development Department. “As Louisiana’s newest fortune 1000 company, Albemarle is a tremendous asset to our state and a valuable corporate citizen.”
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