Albemarle Subsidiary Acquires Lithium Conversion Plant

Oct. 31, 2022
Albemarle completes acquisition of Guangxi Tianyuan New Energy Materials.

Albemarle Corporation subsidiary Albemarle Lithium UK Limited says it has completed the acquisition of  China-based Guangxi Tianyuan New Energy Materials Co., Ltd. (Tianyuan) for approximately $200 million. A definitive agreement to acquire all outstanding equity from Tianyuan's shareholders was announced in September 2021.

Located near the Port of Qinzhou in Guangxi, Tianyuan's operations include a lithium conversion plant with a designed annual conversion capacity of up to 25,000 metric tons LCE that can produce battery-grade lithium carbonate and lithium hydroxide.

"The addition of Tianyuan's operations to Albemarle's high-quality lithium assets strengthens our ability to reliably meet the increasing global demand for battery-grade lithium," says Kent Masters, Albemarle CEO, in a press release from the company. "We welcome the Tianyuan team's support as we help our customers and the world transition to more sustainable energy use."

Read the press release at: www.albemarle.com

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