Albemarle Refocuses Portfolio As Ketjen Sale Reshapes Earnings And Debt Plan
Albemarle has closed the sale of a controlling stake in Ketjen’s refining catalyst solutions business. The company is folding its Performance Catalyst Solutions operations into its core portfolio. Management plans to use sale proceeds for debt reduction and selected strategic initiatives. For investors watching NYSE:ALB, this move comes with the stock at $178.18 and a very mixed return profile. Shares are up 23.8% year to date and 160.0% over the past year, while the 3 year return stands at...
Albemarle has closed the sale of a controlling stake in Ketjen’s refining catalyst solutions business. The company is folding its Performance Catalyst Solutions operations into its core portfolio. Management plans to use sale proceeds for debt reduction and selected strategic initiatives. For investors watching NYSE:ALB, this move comes with the stock at $178.18 and a very mixed return profile. Shares are up 23.8% year to date and 160.0% over the past year, while the 3 year return stands at...