A buyer for the Albemarle plant in South Haven has been found. The chemical company announced several years ago it was looking to sell the facility, and the purchase by W. R. Grace and Company out of Maryland is not expected to cause a change in employment at the site. Albemarle is selling its Fine Chemistry Services division to the Maryland outfit for around $570 million. Albemarle issued a press release on the agreement this month. It says as part of the transaction, Grace will acquire Albemarle’s operations in both Tyrone, Pennsylvania and South Haven. Albemarle CEO Kent Masters says in the press release “Fine Chemistry Services is a profitable business, and we have confidence that Grace is positioned to help it thrive.” The sale is pending regulatory approval.
