Albemarle completed the acquisition of Guangxi Tianyuan New Energy Materials for $200m.

Albemarle, a global specialty chemicals firm, completed the acquisition of Guangxi Tianyuan New Energy Materials, a lithium converter located in Guangxi, China, for $200m. "The acquisition of Tianyuan, which owns and operates a newly constructed lithium processing plant, aligns with our strategy to pursue profitable growth in line with customer demand. This will be a key component of our next wave of projects designed to increase our conversion capacity in a capital-efficient manner in the coming years. As the global transition to cleaner energy rapidly develops, this added lithium capacity will enable us to help our customers achieve their growth and sustainability ambitions," Kent Masters, Albemarle CEO.