J.M. Huber Corp. recently announced that, through its Huber Engineered Materials (HEM) division, it has reached an agreement to acquire the Martinswerk mineral flame retardants and specialty chemicals businesses of Albemarle Corp. The transaction is expected to close in early 2016.
The Martinswerk businesses will become part of HEM’s fire retardant additives business unit. Acquiring these product lines reportedly complements Huber’s portfolio of fire retardants and smoke suppressants, and expands its geographic presence and global reach. As part of this transaction, Huber will also acquire a 50% position in Magnifin, a joint-venture at Breitenau, Austria, which produces magnesium hydroxide.