Albemarle Corporation (NYSE: ALB) announced on August 23, 2016 that it has signed a definitive agreement to acquire the equity interest and assets of Jiangxi Jiangli New Materials Science and Technology Co., Ltd. and Sichuan Guorun New Materials Co., Ltd.  The transaction is expected to close by the end of the first quarter of 2017, subject to regulatory approvals and other closing conditions.  AllBright, acting as Albemarle’s legal counsel, provided full-scope legal services for this acquisition.

Albemarle is a leader in the global specialty chemicals industry.  The target companies focus on the production of battery-grade lithium carbonate and lithium hydroxide for Tesla, BYD and other global clients, capable of producing 15,000 MT lithium salts each year.  This acquisition will further solidify Albemarle’s leading position in the lithium industry.

AllBright team for this transaction includes partner David Li, associate Stacey Lu, legal assistant Hongyu Liu and intern Jianing Chen.