Electric Vehicle Market Witnessing Exponential Growth is Proving to Beneficial for Lithium Mining
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PALM BEACH, Fla., June 9, 2021 /PRNewswire/ The electric vehicles (EVs) market has grown rapidly in the past few years and shows signs of continuing expansion for several years to come which is proving to be a huge windfall for Lithium production. Today, with the increasing concerns raised over the environmental impact of conventional vehicles, governments around the world are encouraging the adoption of vehicles using alternative sources of fuel. EVs are zero-emission vehicles and are gaining preference for clean public transport across countries. Several national governments offer financial incentives, such as tax exemptions and rebates, subsidies, reduced parking/toll fees for EVs, and free charging, to encourage the adoption of EVs. Thus, globally the requirement of EV battery is gaining fast pace. The
CHARLOTTE, N.C., June 1, 2021 /PRNewswire/ Â Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, today announced that it has completed the sale of its Fine Chemistry Services business to W. R. Grace & Co. for approximately $570 million, consisting of $300 million in cash, and the issuance to Albemarle of preferred equity of a W. R. Grace & Co. subsidiary having an aggregate stated value of $270 million. The sale includes Albemarle s operations in Tyrone, Pennsylvania and South Haven, Michigan.
W R Grace closes acquisition of Albermarle business unit - Baltimore Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the first-quarter 2021 Albemarle corporation earnings conference call. [Operator instructions] Please be advised that today s conference is being recorded. [Operator instructions] I would now like to hand the conference over to your speaker host, Meredith Bandy, vice president of investor relations and sustainability. Please go ahead.
Meredith Bandy
Vice President of Investor Relations and Sustainability
All right. Thank you, Olivia, and welcome to Albemarle s first-quarter earnings conference call. Our earnings were released after the close of the market yesterday, and you ll find our press release, presentation and non-GAAP reconciliations posted to our website under the investors section at albemarle.com. Joining me on the call today are Kent Masters, chief executive officer; Scott Tozier, chief financial officer.
ALBemarle Corporation today announced its results for the first quarter ended March 31, 2021 . First Quarter 2021 Highlights Net income of $95.7 million or $0.84 per diluted share; Adjusted diluted EPS of $1.10 an increase of 10% Net sales of $829.3 million an increase of 12% Adjusted EBITDA of $230.1 million an increase of 17% Full year 2021 guidance unchanged Entered into a definitive agreement to sell the Fine .