Specialty chemicals maker Albemarle Corp. will join the S&P 500 after the close of trading on June 30.
The move coincides with the expected completion date of Emera Inc.’s acquisition of TECO Energy, according to S&P Dow Jones Indices. The S&P 500 measures the value of the stocks of the 500 largest companies by market capitalization and offers a quick gauge of the stock market and economy.
Although S&P Dow Jones says Albemarle’s corporate headquarters are in Baton Rouge, Albemarle’s website has listed Charlotte, North Carolina, as its corporate headquarters since at least the beginning of June.
Albemarle announced the move in August 2015, as part of an organizational transformation that began with the $5.7 billion acquisition of lithium giant Rockwood Holdings Inc. Albemarle moved its headquarters to Baton Rouge from Richmond, Virginia, in 2008. Baton Rouge remains the site of the company’s research and development and manufacturing operations at its Process Development Center.