Baton Rouge-based specialty chemicals maker Albemarle Corp. has successfully completed the sale of its antioxidant, ibuprofen and propofol businesses and related assets to SI Group Inc.
Albemarle had announced the deal in late April. SI Group is a privately held company based in New York. The terms of the deal were not disclosed.
The properties include Albemarle’s manufacturing facilities in Orangeburg, S.C., and Jinshan, China, as well as a small portion of the Baton Rouge plant’s assets.
Ablemarle has said the company will continue to make other pharmaceutical products.
Ibuprofen is an ingredient in pain relievers. Propofol is a powerful anesthetic. Antioxidants are used to increase the storage life of fuel.