Donation to support training and
apprenticeship programs for growing regional industries
CHARLOTTE, N.C., April 17,
2024 /PRNewswire/ -- Albemarle Corporation (NYSE:
ALB), a global leader in providing essential elements for mobility,
energy, connectivity and health, announced a $1 million donation to Cleveland Community College (CCC) for the purchase
of equipment, supplies and facility improvements to benefit
workforce training programs. The Shelby,
NC-based college's programs are designed to strengthen
the region's pipeline of skilled and diverse workers to support the
growth of businesses and projects, such as the redevelopment of the
Kings Mountain Mine.
The equipment and facility improvements are expected to be an
integral part of CCC's Heavy Equipment Operator Program and support
apprenticeship programs Albemarle
is developing for several electrical and process operations roles.
In addition, Albemarle employees
are expected to benefit from customized training programs for the
mine's mineral processing facility. These programs are designed to
allow both students and incoming Albemarle employees to learn and train on
state-of-the-art equipment and simulators.
"A skilled and capable workforce is one of the most critical
ingredients needed as we work to strengthen our U.S. supply
chain of lithium," said Ellen
Lenny-Pessagno, Global Vice President, External Affairs and
Sustainability. "We are fortunate to have Cleveland Community College's experienced faculty
and resources right here in the community that can be leveraged to
build a pipeline of talent."
"We are grateful to Albemarle
for this significant investment," said Dr. Jason Hurst, President of Cleveland Community College. "Not only does it
benefit the delivery of workforce training programs, but it also
provides Cleveland Community College
with the means to develop new and innovative training programs and
apprenticeships that support local and regional businesses.
Cleveland Community College has
high-quality, professional instructors that are eager to deliver
training with the proposed new equipment. Albemarle's commitment to this community, and
its community college, is unique and much appreciated."
The donation builds upon $5
million of announced funding to CCC as a subrecipient of the
U.S. Department of Energy's $150
million grant to the Kings Mountain Mine project. The
overall grant is anticipated to support part of the construction
cost for the mine's mineral processing facility and CCC's portion
of the grant is expected to fund the development of a customized
operator training program for the planned facility.
The Kings Mountain site is one
of the few known hard-rock lithium deposits in the U.S. Currently,
Albemarle is preparing permits for
submittal to regulatory agencies and undergoing studies and social
impact assessments to determine the feasibility of reopening the
mine. Albemarle expects the
proposed mine and mineral processing facility to require a
workforce of more than 1,000 construction jobs and an additional
300 full-time, skilled roles. The current Kings Mountain site has more than 300
employees.
Since 2016, Albemarle has
committed more than $2 million
dollars to community initiatives in the region with a focus
on health, social services, educational and cultural initiatives
intended to strengthen Kings
Mountain and surrounding communities.
About Albemarle
Albemarle Corporation (NYSE: ALB) leads the world in transforming
essential resources into critical ingredients for mobility, energy,
connectivity, and health. We partner to pioneer new ways to move,
power, connect and protect with people and planet in mind. A
reliable and high-quality global supply of lithium and bromine
allows us to deliver advanced solutions for our customers.
Forward-Looking Statements
This press release contains
statements concerning our expectations, anticipations and beliefs
regarding the future, including, without limitation, information
related to the use of and benefits derived from the donation to
CCC, the funds from the DOE grant, the planes related to the
Kings Mountain mine, and including
all information relating to matters that are not historical facts,
which constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements, which are based on assumptions that we
have made as of the date hereof and are subject to known and
unknown risks and uncertainties, often contain words such as
"anticipate," "believe," "estimate," "expect," "guidance,"
"intend," "may," "outlook," "should," "would," and "will".
Forward-looking statements may include statements regarding
Albemarle's and BMW Group's
performance under their strategic agreement, future collaboration
and development projects by Albemarle and BMW Group regarding lithium
battery innovations, and all other information relating to matters
that are not historical facts. Factors that could cause
Albemarle's actual results to
differ materially from the outlook expressed or implied in any
forward-looking statement include: changes in economic and business
conditions; financial and operating performance of customers;
timing and magnitude of customer orders; fluctuations in lithium
market prices; production volume shortfalls; increased competition;
changes in product demand; availability and cost of raw materials
and energy; technological change and development; fluctuations in
foreign currencies; changes in laws and government regulation;
regulatory actions, proceedings, claims or litigation;
cyber-security breaches, terrorist attacks, industrial accidents or
natural disasters; political unrest; changes in inflation or
interest rates; volatility in the debt and equity markets;
acquisition and divestiture transactions; timing and success of
projects and collaborations; performance of Albemarle's partners in joint ventures and
other projects; changes in credit ratings; and the other factors
detailed from time to time in the reports Albemarle files with the SEC, including those
described under "Risk Factors" in Albemarle's most recent Annual Report on Form
10-K and any subsequently filed Quarterly Reports on Form 10-Q,
which are filed with the SEC and available on the investor section
of Albemarle's website
(investors.albemarle.com) and on the SEC's website at www.sec.gov.
These forward-looking statements speak only as of the date of this
press release. Albemarle assumes
no obligation to provide any revisions to any forward-looking
statements should circumstances change, except as otherwise
required by securities and other applicable laws.
Media Contact:
Jennifer Zajac, +1 (980)
308-6259, Jennifer.Zajac@albemarle.com
Investor Relations Contact:
Meredith Bandy, +1 (980) 999-5768,
Meredith.Bandy@albemarle.com
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SOURCE Albemarle Corporation
