BATON ROUGE, La. (AP) -- Specialty chemicals manufacturer Albemarle Corp. and Brazilian oil company Petrobras said Monday they plan to build a hydroprocessing catalyst production plant in Santa Cruz, Brazil.
Hydroprocessing catalysts are used by refineries to remove sulfur and other contaminants, and to convert heavy feedstocks into lighter products. Albemarle and Petrobras expect significant demand growth for these catalysts as Brazil begins to implement stricter specifications for ultra-low sulfur diesel.
Under terms of a memorandum of understanding, the companies plan to construct the plant at the site of their joint venture, Fabrica Carioca de Catalisadores SA. That facility produces catalysts, and conducts research and product development activities. The new amount of their investment in the plant wasn't disclosed.
Albemarle, which is headquartered in Baton Rouge, La., and Petrobras also are cooperating on a program designed to further develop advanced hydroprocessing catalysts.
Shares of Albemarle rose 13 cents to close Monday at $55.36.
Hydroprocessing catalysts are used by refineries to remove sulfur and other contaminants, and to convert heavy feedstocks into lighter products. Albemarle and Petrobras expect significant demand growth for these catalysts as Brazil begins to implement stricter specifications for ultra-low sulfur diesel.
Under terms of a memorandum of understanding, the companies plan to construct the plant at the site of their joint venture, Fabrica Carioca de Catalisadores SA. That facility produces catalysts, and conducts research and product development activities. The new amount of their investment in the plant wasn't disclosed.
Albemarle, which is headquartered in Baton Rouge, La., and Petrobras also are cooperating on a program designed to further develop advanced hydroprocessing catalysts.
Shares of Albemarle rose 13 cents to close Monday at $55.36.
