Albemarle Corporation Acquires Sorbent Technologies Corporation
Albemarle adds mercury-control products, services to clean energy portfolio
The acquisition was an all-cash transaction in which the shareholders of Sorbent Technologies received $6.4326 per share of common stock, which represents an aggregate purchase price of approximately $22,500,000.
Sorbent Technologies invented and supplies specialty brominated carbon adsorbents (sorbents) and advanced sorbent injection systems to help control mercury emissions from coal-fired power plants. Sorbent Technologies also provides full-scale site-trial services to aid environmental and operations managers in developing long-term strategies for compliance with state and federal mercury regulations.
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