Albemarle Corp. to mull more cost cuts after pausing major expansion

CHARLOTTE — Albemarle Corp. appears to be considering more cost-cutting measures as low lithium prices persist.

The Charlotte-based company revealed plans to review its cost structure Thursday during its second-quarter earnings announcement. The move comes after Albemarle already implemented major cost-cutting measures in January.

ALSO READ: Albemarle Corp.’s $1.3B project gets OK for Chester County incentives

Albemarle is pausing a major expansion of its manufacturing plant in Kemerton, Australia, as part of its plan to reduce costs. The following cost structure review could lead to more cuts.

It is unclear if employees or investments in Charlotte could be affected.

Albemarle Corp. to mull more cost cuts after pausing major expansion

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