Central Virginia owes a “danke” to a local cidery for successfully representing the region at an international cider competition held in Frankfurt Albemarle CiderWorks returned from across the pond with a gold medal for each of the three ciders submitted in the annual CiderWorld contest Its Brut d’Albemarle Orchard Blush secured first place in the sparkling cider category “We blended our Orchard Blush base with GoldRush and Arkansas Black cider to get the right balance of color and flavor,” associate cidermaker David Timmerman said in a statement “Then we went big — using traditional bottle fermentation to create a sparkling champagne-style rosé cider.” “This is one of my favorite ciders to make,” added Timmerman “I’m proud of how well it was received at CiderWorld in Frankfurt!” The family-owned and -operated cidery in North Garden was also awarded gold medals for its Crab Medley and Brut d’Albemarle Harrison Albemarle CiderWorks is located at 2545 Rural Ridge Lane in North Garden CiderWorld is considered the cider industry’s leading exposition and competition more than 15 countries were represented this year Judges scored competing ciders on a 120-point scale Albemarle CiderWorks’ Brut d’Albemarle Orchard Blush received 119 points The sparkling rosé cider is made with a blend of crab apples — including Bruguiere’s Red-flesh Geneva Crabapple and Redfield — grown on the cidery’s 140-acre property supporting more than 250 apple varieties Bill and Charlotte — have been involved in running the orchard and its cider-making operation ever since their parents decided to purchase a small farm in Albemarle County as they settled into retirement Charlotte Shelton took an interest in growing the existing collection of apple trees — more “as a hobby” than anything else she said in a statement announcing the CiderWorld wins “We were interested in collecting apples for flavor and knew that many of the older heirloom varieties that had been disappearing over the last century were grown for cider production which until the mid-nineteenth century was what most Americans drank,” she said “Founding Albemarle CiderWorks grew out of our horticultural and farming background and interest in sharing something special and rare.” the siblings began to produce and sell some small-batch ciders It wasn’t until many years later that they decided to build out a tasting room and The cidery blazed the trail for cider production but across the commonwealth as Virginia’s oldest operating cidery ehemphill@dailyprogress.com Email notifications are only sent once a day Get up-to-the-minute news sent straight to your device Account processing issue - the email address may already exist Invalid password or account does not exist Submitting this form below will send a message to your email with a link to change your password An email message containing instructions on how to reset your password has been sent to the email address listed on your account Please enable JS and disable any ad blocker Billal Rahman is an immigration reporter based in London He specializes in immigration policy and border security He has uncovered allegations of misconduct among border agents under investigation and exposed claims of abuse at ICE-run detention centers in the U.S He joined Newsweek in 2024 from The Independent He has covered the British Post Office scandal and the conflict between Israel and Hamas he studied Journalism in Edinburgh and then worked for STV News before moving to London in 2022 You can contact Billal at b.rahman@newsweek.com either observed and verified firsthand by the reporter or reported and verified from knowledgeable sources Translations may contain inaccuracies—please refer to the original content Federal immigration authorities detained a man at the Albemarle County Courthouse in Charlottesville after a judge had dismissed charges against him "Following the dismissal of a misdemeanor state charge our client exited the courtroom into the lobby and was physically detained by three men," public defender Nicholas Reppucci told Newsweek "The men showed no identification that they were law enforcement nor that they had a valid arrest warrant." Newsweek has contacted Immigration and Customs Enforcement (ICE) for comment President Donald Trump has pledged to deport millions of undocumented immigrants His administration's hard-line immigration agenda has sparked concern about the involvement of federal agents in local legal proceedings—in this case particularly regarding the lack of transparency in their actions at courthouses A man who appeared in Albemarle County General District Court on April 22 to face assault charges had those charges dropped but was taken into custody shortly afterward by three plainclothes individuals Video footage obtained by 29 News shows a man being approached and restrained in an unrestricted portion of the courthouse lobby by multiple individuals one of whom is wearing a full-face balaclava Though bystanders asked what was happening the individuals did not present a warrant or official identification when requested Despite the concerns raised by those present the man was placed in handcuffs and escorted from the building with the video ending as he was removed from the scene "It is extremely unusual for law enforcement to not show a badge of authority demonstrating they were legally entitled to seize the individual," Reppucci said one of the individuals was wearing a mask to conceal his identity (which is illegal under Virginia state law)." He added that the Charlottesville public defender's office was "working hard to develop and fine tune a new protocol to protect all our clients and their support networks moving forward." The public defender's office was representing Teodoro Dominguez Rodriguez who was arrested along with another man by the masked agents Albemarle County Commonwealth Attorney James Hingeley who was not present at the time of the arrests said in a statement that he was investigating the incident While he expressed relief that no one was injured he voiced concerns that arrests of this nature by ICE could potentially lead to violence "ICE operations conducted in the manner of the courthouse arrests on April 23 where lawful authority to arrest was not displayed constitute a grave danger to our community." The county courthouse is under the jurisdiction of Sheriff Chan Bryant Bryant said the federal agents showed paperwork and credentials to the bailiffs before making the arrests "When the agents were presenting their identification and credential none of the agents were wearing any face coverings The agents informed the bailiffs at that time that they were there to detain two individuals who had court cases in the Albemarle County General District Court," Bryant said "The federal agents showed the bailiff their paperwork and photographs of the individuals they were looking for and waited outside the courtroom until the conclusion of each case," he added In response to concerns over the recent incident at the Albemarle County General District Court state Senator Creigh Deeds and Delegate Katrina Callsen submitted a Freedom of Information Act request to Albemarle County The lawmakers, who seek to obtain answers regarding the presence and actions of plainclothes Department of Homeland Security agents at the courthouse plan to make the findings publicly available Protests erupted outside the Albemarle County Courthouse on Wednesday with more than 100 people gathering to oppose the arrests Public defender Nicholas Reppucci told Newsweek: "The decision to execute an immigration seizure at a state courthouse is horrible public policy this detention will have a severe chilling effect on peoples' willingness to come to court on all matters of disputes Individuals will be less likely to pursue civil protective orders or abide by lawful subpoenas; witnesses on both sides of any issue will be less likely to appear in court people will be less likely to call the police if they observe criminal activity or are the victims of a crime They will be less willing to provide important pertinent information to law enforcement and less likely to intervene to help others if they see people being victimized There will be a significant increase in unreported crime across all categories It is not just the undocumented community that will be negatively affected Our community is less safe and just than it was a few days ago." Albemarle County Commonwealth Attorney James Hingeley said in a statement: "The information I have reviewed so far indicates that these alleged law enforcement agents did not display a badge or other indication of authority that would empower them to make lawful arrests in these circumstances I am grateful that no one was hurt in this operation but I am also greatly concerned that arrests carried out in this manner could escalate into a violent confrontation because the person being arrested or bystanders might resist what appears on its face to be an unlawful assault and abduction." Sheriff Chan Bryant said in a statement: "I want to be clear to the citizens of Albemarle County that the safety and security of the citizens and its courts are the top priority of our office At no time was this a raid of the courthouse These individuals were identified by the federal agents and taken into custody with paperwork in hand for them Which would be the same practice whether it be Albemarle or Charlottesville police formerly Twitter: "Senator Deeds and I penned a letter to Albemarle County requesting more information regarding the presence of plain-clothed Homeland Security Investigations (HSI) agents operating at the Albemarle County Courthouse." It remains to be seen whether further information surrounding the nature of the arrest will be released Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground Newsweek is committed to journalism that's factual and fair Hold us accountable and submit your rating of this article on the meter. Newsletters in your inbox See all A cyclist bikes past the Albemarle County Courthouse on Tuesday Two men were carried away from the Albemarle County Courthouse in downtown Charlottesville Tuesday morning as part of an apparent U.S Such scenes are becoming increasingly common as the Trump administration cracks down on immigrant communities More than 100,000 immigrants have been deported since President Donald Trump took office on Jan While the administration has argued it has targeted only people in the country illegally courts have determined that has not always been the case head of the Charlottesville Office of the Public Defender is that the enforcers called in to detain the two men in the city Tuesday morning were wearing plain clothes and did not display badges or arrest warrants “It’s horrifying for the person being detained,” Reppucci told The Daily Progress “It’s horrifying for the community members watching it.” Three men who identified themselves as Homeland Security officers detain a man in the Albemarle County Courthouse in downtown Charlottesville Where the men have gone and what charges they face have not been disclosed eyewitnesses reported seeing three ICE vehicles in Court Square downtown Reppucci’s office was representing one of the men in Albemarle County General District Court a 41-year-old house painter accused of assaulting a roommate The Daily Progress obtained video of his detention the man can be seen exiting the courtroom after the case against him was dismissed who handcuff him and lead him out the front door of the courthouse and into an unmarked van and I have not seen anything like this before,” said Reppucci middle-age man in a pink shirt appears to be running the operation with the help of two others one of whom wears a balaclava covering his face Two women can be heard in the video questioning what is happening A witness who asked not to be identified said the two women showed up in response to a call to the Immigration Rapid Response Hotline a public service promoted by civil rights and immigrant support groups “Show us a warrant,” the video shows one of the two women demanding as they attempt to get between the detainers and the detainee “Do not touch me or impede me in my lawful duties,” the man in the pink shirt responds ICE is a a federal law enforcement agency within the U.S Department of Homeland Security that holds broad powers to detain and hold people suspected of being in the country illegally “It is highly alarming that ICE would show up to court and detain persons whose charges were dismissed without identifying themselves without producing warrants or any sort of information to corroborate who they were or any sort of explanation,” said Reppucci He called the action “a public policy mistake” and accused ICE of “taking over a state agency with federal force.” all state courts ultimately report to the Virginia Supreme Court Neither that court nor ICE immediately responded to a Daily Progress inquiry The other of the two men detained Tuesday was a 32-year-old who also works as a house painter He was detained while attempting to pay a fine for a drunk driving conviction according to a person with knowledge of the matter who spoke on condition of anonymity The Albemarle County Police Department distanced itself from the raid the Albemarle County Police Department does not inquire into the immigration status of victims or witnesses,” police department spokeswoman Logan Bogert told The Daily Progress in an email “While ACPD collaborates with Homeland Security Investigations (HSI) and ICE on significant cases such as homicides we do not have the legal authority to enforce federal immigration laws.” The Daily Progress’ attempt to reach Albemarle County Sheriff Chan Bryant who oversees the security of county courthouses And although Albemarle County Commonwealth’s Attorney Jim Hingeley said Tuesday that he was insufficiently apprised about what transpired to comment Charlottesville Commonwealth’s Attorney Joe Platania Charlottesville Commonwealth’s Attorney Joe Platania speaks with media outside the city courthouse in 2018 “It would be unjust should federal enforcement activities in and around local courtrooms have a chilling effect on the appearance of undocumented victims and witnesses,” Platania told The Daily Progress “Is it worth the trouble to go to court?” Reppucci asked “I think it’s going to make it much harder and more likely that people will disregard lawfully issued subpoenas both by the prosecution and by defense attorneys and by civil attorneys and in divorce cases or custody case hearings that people are going to evaluate whether or not it makes sense to follow lawful state orders.” hspencer@dailyprogress.com Get the latest in local public safety news with this weekly email A man is detained by officers with the U.S inside the Albemarle County Courthouse i… you have the raw ingredients to surpass them all — if you dare to step into territory they could not Former 29News weatherman Joshua Fitzpatrick has been charged with sexual extortion after police say he secretly made a sex tape and threatened… Protesters flooded Charlottesville's Court Square Wednesday after plainclothes ICE agents raided a courthouse there and detained two men witho… Welcome to ComplianceWeek.com. This site uses cookies. Read our policy - Chief Compliance Officer and VP of Legal Affairs By 2025-05-05T13:42:00 The Department of Justice (DOJ) has ended a FCPA-related non-prosecution agreement (NPA) more than a year early This scaling back of regulatory enforcement by the federal government has been a growing trend since the start of the Trump administration.  Albemarle Corp., a North Carolina-based specialty chemicals manufacturing company, disclosed to the Securities and Exchange Commission Thursday in a 10-Q filing that the Department of Justice ended its three-year post non-prosecution agreement (NPA) reporting period in April the Company concluded its non-prosecution agreement with the U.S Department of Justice (“DOJ”) prior to the end of its term in recognition that the terms of the agreement had been satisfied The non-prosecution agreement was implemented in September 2023 following the Company’s self-reporting of a matter that occurred in 2018.” SINGLE MEMBERSHIP                                             CORPORATE MEMBERSHIP You are not logged in and do not have access to members-only content If you are already a registered user or a member, SIGN IN now For successfully navigating thorny compliance issues related to self-disclosed violations of the Foreign Corrupt Practices Act Albemarle was named Compliance Program of the Year at the 2024 Excellence in Compliance Awards Former Albemarle CCO Andrew McBride explained at Compliance Week’s 2024 National Conference how he led the company’s compliance department to remediate the issues that led to apparent FCPA violations and how the team used data analytics to assess risks and implement compliance solutions former chief risk and compliance officer at chemical company Albemarle Corp. joins the Compliance Week podcast with Aaron Nicodemus to preview his session at CW’s National Conference in Washington Department of Justice ended two compliance monitorships on Glencore International more than a year early monitorships imposed in 2022 after the company was convicted of paying bribes and manipulating commodities markets The United States broke from a three-year downturn in bribery-related enforcement actions while Brazil continued its emergence in the space according to the results of the latest annual Global Enforcement Report by nonprofit TRACE foreign bribery enforcement actions slowed notably in 2021 while the overall pace of transnational anti-bribery enforcement actions and investigations lagged worldwide according to TRACE International’s latest enforcement report Site powered by Webvision Cloud Monday - Friday 9am-12pm / 2pm-6pm GMT + 1 All financial news and data tailored to specific country editions CHARLOTTE, N.C., April 30, 2025 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) a global leader in providing essential elements for mobility today announced its results for the first quarter ended March 31 First-Quarter 2025 and Recent Highlights(Unless otherwise stated all percentage changes represent year-over-year comparisons) (a)   Defined as Operating Cash Flow divided by Adj See Non-GAAP Reconciliations for further details "Our business continues to perform in line with our outlook considerations including first-quarter adjusted EBITDA of $267 million with strong year-over-year improvements in Specialties and Ketjen," said Kent Masters "We continue to focus on what we can control - taking decisive actions to reduce costs optimize our lithium conversion network and increase efficiencies to preserve our long-term competitive position While the full economic impact of the recently announced tariffs and other global trade actions is unclear we benefit from our global footprint and the current exemptions for critical minerals; as a result we are maintaining our full year 2025 outlook considerations." Net income attributable to Albemarle Corporation $         41.3 $           2.4 $         38.9 $       267.1 $       291.2 $       (24.1) Diluted loss per share attributable to commonshareholders $       (0.00) $       (0.08) $         0.08    Non-recurring and other unusual items(a) Adjusted diluted (loss) earnings per share attributableto common shareholders(a)(b) $       (0.18) $         0.26 $       (0.44) (a)    See Non-GAAP Reconciliations for further details (b)    Totals may not add due to rounding Net sales for the first quarter of 2025 were $1.1 billion compared to $1.4 billion for the prior-year quarter a decline of 21% driven primarily by lower pricing in Energy Storage partially offset by higher volumes in Specialties (+11%) Adjusted EBITDA of $267 million declined by $24 million from the prior-year quarter as lower net sales were mostly offset by lower average input costs and on-going cost reduction efforts Net income attributable to Albemarle of $41 million increased year-over-year by $39 million The effective income tax rate for the first quarter of 2025 was 21.0% compared to 2.2% in the same period of 2024 the effective income tax rates were (42.8)% and (12.4)% for the first quarters of 2025 and 2024 with the decrease primarily due to changes in geographic income mix and the impact of tax valuation allowances in Australia and China.  $           524.6 $           800.9 $          (276.3) $           186.4 $           198.0 $           (11.6) Energy Storage net sales for the first quarter of 2025 were $525 million Volumes were flat as record production at our integrated conversion network offset reduced tolling volumes Adjusted EBITDA of $186 million decreased $12 million as lower net sales were mostly offset by lower average input costs and on-going cost reduction efforts $           321.0 $           316.1 $               4.9 $             58.7 $             45.2 $             13.5 Specialties net sales for the first quarter of 2025 were $321 million Adjusted EBITDA of $59 million increased $13 million versus the year-ago quarter due to higher sales volumes and decreased manufacturing costs related to productivity initiatives.  $           231.3 $           243.8 $           (12.5) $             38.6 $             22.0 $             16.6 Ketjen net sales for the first quarter of 2025 were $231 million down 5% compared to the prior-year quarter as higher prices (+4%) were more than offset by lower volumes (-8%) offset by favorable pricing due to product mix Adjusted EBITDA of $39 million increased $17 million driven by favorable product mix and higher equity income from joint ventures Total Corporate Outlook Considerations are UnchangedThe table below reflects expected outcomes for the total company based on recently observed lithium market price scenarios Ranges include the anticipated direct impact of announced tariffs as of April 29 Ranges are based on variation in sales volume and mix including a projected increase in Energy Storage volumes of 0% to 10% in 2025 compared to 2024 All three scenarios assume flat market pricing flowing through Energy Storage's current contract book Scenarios also assume spodumene pricing averages 10% of the lithium carbonate equivalent (LCE) price while other costs are assumed to be constant Average lithium market price ($/kg LCE)(a) Price represents blend of relevant market pricing including spot and regional indices for the periods referenced The company does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP as the company is unable to estimate significant non-recurring or unusual items without unreasonable effort See "Additional information regarding Non-GAAP Measures" for more information Equity in net income of unconsolidated investments(net of tax)(b) Included in adjusted EBITDA on a pre-tax basis Specialties and Ketjen Outlook ConsiderationsSpecialties outlook reflects modest volume growth in key end markets led by pharma partially offset by weakness in building and construction Ketjen outlook assumes favorable product revenue mix lower input costs and the continuation of its turnaround plan execution Other Corporate Outlook ConsiderationsAlbemarle expects its 2025 capital expenditures to be in the range of $700 million to $800 million down more than 50% from $1.7 billion in 2024 This level of spending reflects a prioritization on sustaining existing assets and resources with the remainder allocated to select growth projects and high-return Weighted-average common shares outstanding (diluted) (a)    Adjusted effective tax rate dependent on lithium market prices and geographic income mix (b)    FY 2025E outlook includes FX impact year to date Cash Flow and Capital DeploymentCash from operations of $545 million increased $447 million compared to the prior-year period A customer prepayment received in January and improved working capital more than offset lower adjusted EBITDA and reduced dividends received from equity investments Capital expenditures of $183 million decreased by $397 million versus the prior-year period reflecting the impact of decisions that stopped or slowed spending and the completion of capacity expansions in Energy Storage and Specialties Balance Sheet and LiquidityAs of March 31 Albemarle had estimated liquidity of approximately $3.1 billion including $1.5 billion of cash and cash equivalents $1.5 billion available under its revolver and $106 million available under other credit lines representing a debt covenant net debt to adjusted EBITDA ratio of approximately 2.4 times The company's earnings presentation and supporting material are available on Albemarle's website at https://investors.albemarle.com About AlbemarleAlbemarle Corporation (NYSE: ALB) is a global leader in transforming essential resources into critical ingredients for mobility connect and protect with people and planet in mind A reliable and high-quality global supply of lithium and bromine allow us to deliver advanced solutions for our customers Learn more about how the people of Albemarle are enabling a more resilient world at albemarle.com and on X (formerly Twitter) @AlbemarleCorp Albemarle regularly posts information to www.albemarle.com Securities and Exchange Commission ("SEC") filings and other information regarding the company 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 Albemarle Corporation and SubsidiariesConsolidated Statements of Income(In Thousands Except Per Share Amounts) (Unaudited) Restructuring charges and asset write-offs Loss before income taxes and equity in net income of unconsolidated investments Loss before equity in net income of unconsolidated investments Equity in net income of unconsolidated investments (net of tax) Net income attributable to noncontrolling interests Mandatory convertible preferred stock dividends Net loss attributable to Albemarle Corporation common shareholders $         (340) Basic loss per share attributable to common shareholders $        (0.00) $        (0.08) Diluted loss per share attributable to common shareholders Weighted-average common shares outstanding – basic Weighted-average common shares outstanding – diluted Albemarle Corporation and SubsidiariesCondensed Consolidated Balance Sheets(In Thousands) (Unaudited) $        1,518,511 $        1,192,230 Less accumulated depreciation and amortization $      16,999,258 $      16,609,649 $           778,658 $           793,455 Albemarle Corporation shareholders' equity: Total Albemarle Corporation shareholders' equity Albemarle Corporation and SubsidiariesSelected Consolidated Cash Flow Data(In Thousands) (Unaudited) Cash and cash equivalents at beginning of year Adjustments to reconcile net income to cash flows from operating activities: Dividends received from unconsolidated investments and nonmarketablesecurities Realized loss on investments in marketable securities Unrealized loss on investments in marketable securities Investments in equity investments and nonmarketable securities Proceeds from issuance of mandatory convertible preferred stock Repayments of long-term debt and credit agreements Proceeds from borrowings of long-term debt and credit agreements Dividends paid to mandatory convertible preferred shareholders Dividends paid to noncontrolling interests Withholding taxes paid on stock-based compensation award distributions Net cash (used in) provided by financing activities Net effect of foreign exchange on cash and cash equivalents Cash and cash equivalents at end of period Albemarle Corporation and SubsidiariesConsolidated Summary of Segment Results(In Thousands) (Unaudited)  See accompanying non-GAAP reconciliations below Additional Information regarding Non-GAAP Measures It should be noted that adjusted net income attributable to Albemarle Corporation adjusted net (loss) income attributable to Albemarle Corporation common shareholders adjusted diluted loss per share attributable to common shareholders non-operating pension and other post-employment benefit ("OPEB") items per diluted share non-recurring and other unusual items per diluted share and operating cash flow conversion are financial measures that are not required by accounting principles generally accepted in the United States These non-GAAP measures should not be considered as alternatives to Net income attributable to Albemarle Corporation ("earnings") or other comparable measures calculated and reported in accordance with GAAP These measures are presented here to provide additional useful measurements to review the company's operations provide transparency to investors and enable period-to-period comparability of financial performance The company's chief operating decision maker uses these measures to assess the ongoing performance of the company and its segments as well as for business and enterprise planning purposes A description of other non-GAAP financial measures that Albemarle uses to evaluate its operations and financial performance, and reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found on the following pages of this press release, which is also is available on Albemarle's website at https://investors.albemarle.com The amounts and timing of these items are uncertain and could be material to the company's results calculated in accordance with GAAP See below for a reconciliation of adjusted net income attributable to Albemarle Corporation EBITDA and adjusted EBITDA (on a consolidated basis) to Net income attributable to Albemarle Corporation the most directly comparable financial measure calculated and reported in accordance with GAAP Adjusted net (loss) income attributable to Albemarle Corporation common shareholders is defined as net income (loss) after mandatory convertible preferred stock dividends other unusual and non-operating pension and other post-employment benefit (OPEB) items as listed below The non-recurring and unusual items may include acquisition and integration related costs certain litigation and arbitration costs and charges EBITDA is defined as net income attributable to Albemarle Corporation before interest and financing expenses Adjusted EBITDA is defined as EBITDA plus or minus the proportionate share of Windfield Holdings income tax expense other unusual and non-operating pension and OPEB items as listed below Non-operating pension and OPEB items (net of tax) Non-recurring and other unusual items (net of tax) Adjusted net income attributable to Albemarle Corporation     Mandatory convertible preferred stock dividends Adjusted net (loss) income attributable to Albemarle Corporation common shareholders Adjusted diluted (loss) earnings per share attributable to common shareholders Adjusted weighted-average common shares outstanding – diluted Proportionate share of Windfield income tax expense consisting of mark-to-market actuarial gains/losses interest cost and expected return on assets are not allocated to Albemarle's operating segments and are included in the Corporate category the company believes that these components of pension cost are mainly driven by market performance and the company manages these separately from the operational performance of the company's businesses these non-operating pension and OPEB items are included in Other income Non-operating pension and OPEB items were as follows (in thousands): $       8,810 $       8,505 $          275 $        (325) In addition to the non-operating pension and OPEB items disclosed above the company has identified certain other items and excluded them from Albemarle's adjusted net income calculation for the periods presented as well as a detailed description of each follows below (per diluted share): Restructuring charges and asset write-offs(1) $       (0.02) $         0.23 Acquisition and integration related costs(2) Loss in fair value of public equity securities(3) Total non-recurring and other unusual items $         0.34 The Company took several actions during 2024 as part of a broader effort that will focus on preserving its world-class resource advantages improving the Company's cost competitiveness and efficiency reducing capital intensity and enhancing the Company's financial flexibility Those actions included stopping construction of Kemerton Trains 3 and 4 placing Kemerton Train 2 in care and maintenance and transitioning the Company's operating structure to a fully integrated functional model (excluding Ketjen) the Company announced its additional decision to put the Chengdu China conversion plant into care and maintenance by mid-year 2025 the Company recorded restructuring and asset write-off charges of ($1.1 million) in Restructuring charges and asset write-offs and losses of $0.2 million in Other income this resulted in total after-tax gains of $2.1 million or $0.02 per share for the three months ended March 31 the Company recorded restructuring and asset write-off charges of $33.5 million in Restructuring charges and asset write-offs and losses of $2.7 million in Other income this resulted in after-tax losses of ($27.0 million after income taxes or $0.23 per share) for the three months ended March 31 integration and divestitures for various significant projects general and administrative expenses for the three months ended March 31 2025 and 2024 were $1.4 million and $1.9 million ($1.1 million and $1.5 million after income taxes Loss of $5.0 million ($3.9 million after income taxes or $0.03 per share) recorded in Other income net resulting from the net change in fair value of investments in public equity securities for the three months ended March 31 Losses of $33.7 million and $9.4 million recorded in Other income net resulting from the sale of investments in public equity securities and the change in fair value of investments in public equity securities Other adjustments for the three months ended March 31 general and administrative expenses - $3.2 million of gains from the sale of assets at a site not part of our operations partially offset by $0.6 million of expenses related to certain historical legal matters net - $9.8 million of income from PIK dividends of preferred equity in a Grace subsidiary and a $1.9 million gain primarily resulting from the adjustment of indemnification related to previously disposed businesses partially offset by $1.9 million of charges for asset retirement obligations at a site not part of our operations Cost of goods sold - $1.4 million of expenses related to non-routine labor and compensation related costs that are outside normal compensation arrangements general and administrative expenses - $0.1 million of expenses related to certain legal costs net - $17.3 million gain primarily from the sale of assets at a site not part of our operations an $8.7 million gain from PIK dividends of preferred equity in a Grace subsidiary and a $2.4 million gain primarily resulting from the adjustment of indemnification related to a previously disposed business partially offset by $2.9 million of charges for asset retirement obligations at a site not part of our operations Included in Income tax benefit for the three months ended March 31 2025 are discrete net tax benefits of $14.2 million primarily related to the reduction in a foreign tax reserve and excess tax benefits realized from stock-based compensation arrangements 2024 are discrete net tax benefits of $12.3 million or $0.10 per share primarily related to the reduction in a foreign tax reserve and excess tax benefits realized from stock-based compensation arrangements See below for a reconciliation of the adjusted effective income tax rate the most directly comparable financial measure calculated and reporting in accordance with GAAP (in thousands (Loss) income before income taxes and equity in netincome of unconsolidatedinvestments $                     (18,966) $                       (3,978) other unusual and non-operating pension and OPEBitems $                     (25,249) $                      10,814 $                   (167,574) $                       (3,721) $                   (110,474) $                      13,686 See below for the calculation of operating cash flow conversion which the Company defines as Net cash provided by operating activities from the statement of cash flows divided by adjusted EBITDA from net income attributable to Albemarle Corporation the most directly comparable financial measure calculated and reporting in accordance with GAAP is provided in the above tables (in thousands $                545,383 Net cash provided by operating activities excluding customer prepayment $                195,383 $                267,144 Operating cash flow conversion excluding customer prepayment [email protected] The Board of Directors of Albemarle Corporation (NYSE: ALB) announced today that it declared a quarterly common stock dividend of $0.405 per share... Chemical Chemical Mining & Metals Mining & Metals Do not sell or share my personal information: Please select what you would like included for printing: Copy the text below and then paste that into your favorite email application Lonnie was the eighth of twelve children born to the late Walter and Sarah Swanner Upon joining the United States Army at age 17 Lonnie trained as a paratrooper at Fort Campbell and served as a member of the 101st Airborne Division He completed a tour of duty in Vietnam and subsequently served in the US Army Reserve for thirty years Lonnie enrolled at Greenville Technical College in South Carolina before earning his master’s degree while working full-time where he worked at Stanly Community College Jennifer Coble (Jason) and Alicia Landis (Danny) He is also survived by five grandchildren: Emma Grace Coble Lonnie was a dedicated father and grandfather never missing an opportunity to spend time with his relatives and treasuring every moment that the entire family could be together he had hiked the Grand Canyon as well as numerous trails in the Uwharrie Following his retirement from Stanly Community College he became an avid cyclist and rode numerous Cycle North Carolina events as well as informal rides with friends (usually including longtime SCC President Dr exploring new destinations or visiting friends and family in Kentucky The family will receive friends from 10:00 am - 10:45 am The funeral service will be on Saturday at 11:00 am at Hartsell Funeral Home's Lefler Memorial Chapel in Albemarle Michael and Alice Taylor Nurse Aide Scholarship Fund at Stanly Community College to Tillery Compassionate Care of Albemarle or to a charity of the donor’s choice The family wishes to thank the staff of Spring Arbor Senior Living in Albemarle for their kind and loving care during Lonnie’s stay Hartsell Funeral Home of Albemarle is serving the Swanner family Enter your phone number above to have directions sent via text This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply Service map data © OpenStreetMap contributors The Albemarle Board of Supervisors will adopt a new budget on May 7 that is based on increases in the tax rate for real property and personal property.  Republican Scott Smith rode his bike to the steps of the county office building and compared himself to Paul Revere with a warning “Right now behind the doors is a brewing tempest of tax increases,” Smith said I’ve watched our property taxes essentially double.” whose day job is as director of design and development for the University of Virginia Foundation for the Samuel Miller District seat covering southwestern Albemarle.  A Republican has not been elected to the Board of Supervisors since 2011 when the late Ken Boyd won a third term with just over 56 percent of the vote against Democrat Cynthia Neff.  Republicans won seats in the Samuel Miller and Rio districts which gave them a majority on most votes due to a conservative-leaning Democrat in the Scottsville District Both Duane Snow and Rodney Thomas lost their reelection bids in 2013 to Democrats.  the political makeup of Albemarle has steadily grown more Democratic Barack Obama carried the county with 55.2 percent of the vote in 2012 Hillary Clinton increased that to 59.3 percent in 2016 and Biden received 65.7 percent in 2020 Kamala Harris had a similar showing last year That means the Board of Supervisors has been more willing to increase taxes to bring in more revenue for government services the Board lowered the real property tax rate from $0.74 per $100 of assessed value to $0.68.  The rate gradually grew to $0.854 in 2019 where it has remained until this year County Executive Jeffrey Richardson proposed a four cent increase with most of that new revenue going to cover the cost to hire dozens of new firefighters and medics in a growing county.  Property assessments have also increased over that time Elected bodies in surrounding counties often reduce the real estate tax rate but both Albemarle and Charlottesville have increased spending.  Smith is a retired businessman in the software industry who moved with his wife to Albemarle five years ago.  “We need someone sitting at the table,” he said Incumbent Democrat Ned Gallaway is seeking a third term to represent the Rio District Diantha McKeel is not seeking a fourth term while two Democrats are vying for the nomination in the June 17 primary Sally Duncan is a history teacher and David Shreve is an economist and former member of the Albemarle Economic Development Authority The Free Enterprise Forum will hold a candidate event at Journey Middle School on May 21.  June 17 is also the deadline for Republicans to get candidates on the ballot A total of three seats are up this November.  but Albemarle Republican Committee Chair Nancy Muir said the party is seeking to add two more candidates in order to provide voters a choice.  “We are truly entertaining one of those seats right now,” Muir said but did not want to identify a name.  Fadeley challenged incumbent Democrat Bea LaPisto-Kirtley She received just over 60.5 percent of the vote to clinch a second term and decisions about land use are up to the six-member Board of Supervisors The unincorporated community is in Albemarle’s White Hall District incumbent Supervisor Ann Mallek narrowly defeated challenger Brad Rykal   Rykal’s campaign argued Albemarle has focused too much development into Crozet without providing […] the Quirk Hotel in Charlottesville was sold for $24 million to Blue Suede Hospitality Group on Monday The hotel will undergo a complete rebrand—including a renaming—later this fall the Charlottesville Quirk Hotel is the sister location of the popular Richmond-based Quirk Hotel Tensions between organizers and university leadership reached a boiling point underneath the gray skies on Saturday when police forcefully broke up a pro-Palestine encampment at the University of Virginia.  By all accounts the UVA Encampment for Gaza organized peacefully on Grounds with demonstrators intermittently chanting and working on their finals throughout […] we work to spark curiosity and enable readers to engage meaningfully with their community shining a light into the oft-overlooked corners of our city and providing a jumping-off point for our readers to dive deeper into the place we call home Powered by Innovative Software Solutions Charlottesville and Albemarle County greet spring with a full slate of events and activities to get you outdoors and into the spring spirit As the runner up in The Local Palate’s Top Culinary Towns in the South competition there’s no better way to explore the Charlottesville area than to discover award-winning wines and indulge in seasonal foods all while basking in the beautiful spring weather Take in Mountain Views at Award-Winning Vineyards Explore Fresh Food at Local Markets and Orchards Don’t forget to grab a warm apple cider donut or treat yourself to peach ice cream Dine Al Fresco and Hunt for the Best Food Truck Whether you’re a wine enthusiast or foodie, the Charlottesville area is the perfect place to visit. Spring is a popular season, so be sure to check out a midweek stay for more affordable lodging options. Go to visitcharlottesville.org to learn more about Charlottesville and Albemarle County’s resorts *Disclaimer: This content was paid for by an advertiser. The Baltimore Banner's newsroom and editorial staff were not involved in the creation of this content. To find out more, please contact advertising@thebaltimorebanner.com. Use of this site constitutes acceptance of our Terms of Service and Privacy Policies The Baltimore Banner is a trademark registered in the U.S for The Venetoulis Institute for Local Journalism *Disclaimer: This content was paid for by an advertiser. The Baltimore Banner's newsroom and editorial staff were not involved in the creation of this content. To find out more, please contact advertising@thebaltimorebanner.com. Use of this site constitutes acceptance of our Terms of Service and Privacy Policies Click here to view our Terms of Sale.\n \n Click here to learn more about supporting local journalism.\n Something went wrong. Please try again in a few minutes. If the problem persists, please contact customer service at 443-843-0043 or customercare@thebaltimorebanner.com All 5 Releases Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information A truck carries potassium chloride at the Albemarle Corp is anticipating more pain for higher cost producers of the battery metal many of which are losing money due to low prices About 40% of global supply capacity is either at or below breakeven Albemarle executives said Thursday on an earnings call Visa restored for third UVa international student; Virginia football lands commitment An Albemarle County man faces potential deportation to Gautemala after authorities say his wrong-way drunk driving down Interstate 64 last fall injured two people Mynor Nasario Diaz Mejía faces the prospect of a felony charge that could imprison him in the States for up to 10 years Court records show that Diaz Mejía had been in Central Virginia just five or six months when the 26-year-old caused a multi-vehicle Police say it was just a few minutes before midnight on Sept 18 when Diaz Mejía was driving west in the eastbound lanes of I-64 behind the wheel of a Toyota Highlander “The driver of the GMC Yukon that was hit head on was transported to UVa and has undergone multiple surgeries,” according to a criminal complaint written by Virginia state trooper Alexander O’Connell The second injury came in the wake of the first impact when a tractor-trailer halted on the highway and was hit from behind “The driver of the vehicle that struck the tractor trailer suffered serious injuries and was also transported to UVa,” O’Connell wrote Initially charged with three misdemeanor and two felony counts in Albemarle County General District Court Diaz Mejía waived his right to a preliminary hearing April 10 when prosecutors agreed to drop one of the felony maiming charges and all of the misdemeanors Immigration and Customs Enforcement raid at the Albemarle County Courthouse made national headlines local officials were troubled about what to do with Diaz Mejía Their effort to move him out of the Albemarle-Charlottesville Regional Jail and place him under home electronic incarceration he will be apprehended and placed into ICE custody,” wrote a jailhouse official in late November Judges routinely tell those entering guilty pleas to felony offenses that they face the prospect of deportation if their immigration paperwork is lacking And with the Trump administration’s desire to speed up deportations amid a nationwide crackdown on immigration Diaz Mejía appears headed for deportation even if he evades conviction That’s because the administration of Virginia Gov Glenn Youngkin has enlisted officers with the Virginia Department of Corrections to assist with deportations Like the people in the other vehicles that crashed on I-64 and a police detective filed a search warrant to obtain a sample of his blood from the University of Virginia Medical Center in Charlottesville The results of the subsequent testing are not entered into his file in Albemarle County Circuit Court where he now stands charged with a single count of maiming while drunk driving It’s not clear from his file whether Diaz Mejía will face a Class 6 felony charge which governs drunken crashes resulting in serious injury and caps the penalty at five years or the steeper permanent-injury charge which allows up to 10 years The victims and the precise nature of their injuries are not yet named in the court file According to a document filed by his initial attorney he broke two bones in an arm and one femur each of which required the surgical implantation of metal supports to repair “He walks with a crutch,” wrote that lawyer “and will require multiple postoperative visits and likely physical therapy.” Brinton also indicated that at the time of the wreck Diaz Mejía had been working for Texas Roadhouse a steakhouse chain with an outpost in the Albemarle Square shopping center Brinton also indicated that Diaz Mejía has no criminal record and that his first language is Mam a Mayan language spoken by some Indigenous Guatemalan communities Held without bail at the Albemarle-Charlottesville Regional Jail since his Oct Diaz Mejía may learn his trial date at a hearing slated for June 2 declined to offer comment to The Daily Progress VA (CVILLE RIGHT NOW) – Albemarle Police report two people shot in an incident Thursday night on Country Green Road near 5 Rows Apartments close to Old Lynchburg Road Officers responded to a shots-fired call shortly before 9 where they found the two hit Both were transported to UVA with non-life threatening injuries.adButlerLazyLoad("597019158630629512",100,["688449","688449","688449"],"177030"); Police say there is no ongoing threat to the public and anyone with information about this incident is urged to contact Albemarle County Police Department’s Criminal Investigations Division at 434-296-5807 or Crime Stoppers at 434-977-4000 Jay Hart is a news reporter with CvilleRightNow.com Reach him by email at jhart@charlottesvilleradiogroup.com or call 434-977-6397 UVA Alert Monday morning from self-inflicted gunshot incident The Nelson County Sheriff and The AWARE Foundation of Virginia asking help finding a missing Nelson County teen Governor Youngkin took final actions to complete the legislative session for 2025 in the General Assembly Charlottesville Police Chief Kochis presented to City Council last night a plea to implement a one-year program that would combine department program data asking Council for a $150,000 appropriation Virginia’s standing as one of the top states in the nation for patient safety in hospital settings has again been affirmed in the Leapfrog Group Hospital Safety Grade rankings Be sure you have your GPS enabled and try again Abigail Spanberger made a tour of the Charlottesville area Sunday speaking to students at an event hosted by University Democrats before heading out west to speak to local Democrats about this year’s gubernatorial election.The event at the Greencroft Club a fundraiser for the Albemarle County Democratic Party was filled with supporters and local politicians — all expressing enthusiasm about Democrats’ chances this November.  4 for a chance to become the Commonwealth of Virginia’s first female governor Democrats will also have a chance to expand their slim There was no lack of optimism at the event for Democrats who begin this year’s elections as the favorites based on pure historical standards The president’s party has only won the Virginia gubernatorial race one time since 1973 and President Donald Trump’s approval rating continues to tick down with six months to go until Virginia’s election Spanberger made it clear that this election is not only about Virginia but about sending a message to the Trump administration will pay attention to what it is that we do here in Virginia in 2025,” Spanberger said Spanberger discussed the Trump administration’s current efforts to reduce the size of the federal workforce through Elon Musk’s Department of Government Efficiency saying that these efforts directly harm Virginia’s economy The Northern Virginia and Hampton Roads regions of the Commonwealth have especially high concentrations of the around 145,000 federal workers in Virginia “When there are assaults after assaults on the federal workforce we deserve a governor who will stand up and say not only is this so harmful to those families and to our federal workforce for the strength of our communities and for our Commonwealth,” Spanberger said Spanberger did not dive into much detail on policy but emphasized that funding public education would be a priority which include improving the education system citing hopes to improve Virginia’s quality of life “What motivated me to run in the first place was a desire to ensure that Virginia is on path to having the strongest education system in the whole country that Virginia is a place where we don't just talk about some of the challenges of affordability … but we actually endeavor to fix those challenges,” Spanberger said The former undercover CIA agent and congresswoman has experience winning tough races having defeated an incumbent Republican in Virginia’s 7th congressional district in 2018 Spanberger narrowly won reelection for two more terms before deciding to run for governor And while Spanberger may start out as an early favorite she made it clear that she is not seeking a narrow win A large win for the candidate could have consequences down-the-ballot as well. There are currently eight Republican-held seats in the House of Delegates that were won by Kamala Harris last November there is not a single Democratic-held seat that was carried by Donald Trump This leaves Democrats as early favorites to expand their House majority especially if Spanberger performs well at the top of the ticket.  Spanberger spoke to The Cavalier Daily about the role students play in her campaign noting that they were significant in helping to get her on the ballot “We had students across the Commonwealth…who have been collecting petition signatures to get me on the ballot in the first place,” Spanberger said a lot of that is because of the help of different student groups.” Spanberger said there is not one specific issue she has identified in her conversations with students that will be key to how they vote housing availability and threats to social security but I think that what I have witnessed from students is a wide breadth of things that that also impact the community that they want to see strengthened now and into the future,” Spanberger said said that Spanberger is doing a decent job of appealing to young voters but could be doing more to win their support “Abigail Spanberger is obviously the best candidate of the two and I think she's doing a decently good job connecting with young voters,” Munson said “I’d just like to see her do a little more in offering her vision of the future.” a consulting club that offers digital support and strategy to Democratic political campaigns locally Albemarle County Democrats is one of their clients He said that Spanberger’s strategy of using Democrats’ anger toward Trump and his policies to energize them for the election is effective enough but that Spanberger needs a stronger message going forward “Democrats can only talk about Trump and how bad he is for so long before they have to come up with their own platform,” Munson said “I think young voters want … some kind of clear vision for the future Spanberger dwelt on funding for public education in her speech as an important part of her platform also spoke in an event at the University April 22 about the importance of education Earle-Sears emphasized her support for public education Spanberger said Earle-Sears has an interest in pulling money from public education.  Spanberger also alluded to Earle-Sears in the context of standing up to the Trump administration which Spanberger suggested Earle-Sears has not done adequately “I think there's foundational differences between my opponent and me … whether it's even the basics of standing up to an administration and making clear the negative impacts of trade policy and economic policy and pulling federal dollars [from] research,” Spanberger said whatever the issue is that motivates them.” All Democratic speakers at the event — which included Dels D-Charlottesville — emphasized that Trump and his policies will play a part in this election Despite speaking against the Trump administration's policies Spanberger never mentioned the president by name in her critiques “Virginia can be an example for the rest of the nation,” Spanberger said Voters will head to the polls June 17 for the primary election though neither Spanberger nor Earle-Sears will face any challengers from their parties Indieheads is one of many Contracted Independent Organizations at the University dedicated to music though it stands out to students for many reasons Indieheads President Brian Tafazoli describes his experience and involvement in Indieheads over the years as well as the impact that the organization has had on his personal and musical development Local judicial and law enforcement systems were turned upside down on April 22 when two men were detained by plainclothes immigration officers at the Albemarle County General District Court Immigration and Customs Enforcement is standing by its actions despite numerous concerns and questions raised by immigration activists and civil rights organizations including the American Civil Liberties Union identified by Virginia Public Media as Teodoro Dominguez-Rodriguez of Honduras and Pablo Aparicio-Marcelino of Mexico are currently in custody at the ICE detention center run by Abyon in Farmville A video published by The Daily Progress shows three plainclothes federal officers one of whom is wearing a balaclava in violation of Virginia Code 18.2-422 closing in on one of the men as two unidentified bystanders ask to see a warrant or other identification to the men prior to arrest Security at the courthouse is handled by the Albemarle County Sheriff’s Office Both the ACSO and the Albemarle County Police Department say they were not aware of the federal law enforcement action prior to ICE agents arriving at the courthouse and warrants to bailiffs prior to making the arrests “The agents informed the bailiffs at that time that they were there to detain two individuals who had court cases in the Albemarle County General District Court,” said Bryant in an April 23 press release After the first man was detained and removed from the building a crowd gathered and began recording the incident “When the federal agents became the subject of an individual recording them one of the agents put on a hood to cover his face After the conclusion of the second individual[’s] court hearing he was detained by federal authorities and escorted out of the building.” Several local and state legal authorities have since spoken out against the detainments commonwealth’s attorney for Albemarle County was not present at the time of the detainments but has publicly criticized the actions and has opened an investigation into the incident “I am grateful that no one was hurt in this operation because the person being arrested or bystanders might resist what appears on its face to be an unlawful assault and abduction,” said Hingeley in an April 23 release An ICE spokesperson responded to Hingeley’s comments on April 26 indicating that the agency stands by its actions intends to prosecute the bystanders who “unsuccessfully attempted to obstruct enforcement efforts,” and accused Hingeley of “posturing for the media … to gain political capital.” The same statement labels Dominguez-Rodriguez as an “illegally present violent Honduran alien.” The Virginia Online Court Case Information System lists two charges against the defendant for assault and battery one of which was dismissed in court on April 22 The other charge has not yet gone to adjudication Hingeley responded to the ICE statement the same day “It is a fact that the method chosen by ICE agents to make these arrests constituted a risk to public safety and I am confident my constituents appreciate my efforts to bring facts to light,” he said “My investigation is balanced and impartial and I have received input from the federal agencies involved in making the arrests to conclude that the ICE spokesperson’s attack on my integrity was misguided I leave it to my constituents to decide who was ‘posturing for the media.’”     Chief Public Defender for Charlottesville and Albemarle County Nick Reppucci whose office was representing Dominguez-Rodriguez in court that day In addition to the impingement of his client’s rights Reppucci is concerned about the potential “chilling effect” on participation with the justice system discouraging people from showing up to court “It is not just the undocumented community that will be negatively affected “Our community is less safe and just than it was a few days ago.” legal action against the bystanders shown in The Daily Progress video would further exacerbate harm to the Charlottesville community would be to intimidate the community and individuals from demanding that law enforcement follow correct protocol,” he says “If the protocol becomes accepted in our society that people can just say that they’re law enforcement and seize people off the streets under the guise that they are enforcing immigration laws it’s going to lead to widespread abuses of people’s rights and undoubtedly copycat criminal behavior Bryant acknowledged the potential impact of the detainments on the local justice system in a comment via email but also said that “Albemarle County Sheriff’s Deputies identified the federal law enforcement agents by their badges and credentials therefore they knew that it was not a kidnapping and the federal agents were there on their official business I cannot speak on other law enforcement agencies’ policy and procedures relating to how they identify themselves to the public.” Local representatives are also weighing in on the April 22 detainments Tim Kaine echoed many of Reppucci and Hingeley’s points in an email sharing that his staff is currently looking into the incident “Particularly in settings like courthouses it’s important that law enforcement officers are clearly identified to help avoid misunderstandings that could lead to escalation of violence even to include officer-on-officer fire,” he said and jointly filed a Freedom of Information Act request with Albemarle County the day after the ICE action Developments are available on Callsen’s website as they emerge Dominguez-Rodriguez and Aparicio-Marcelino remain in custody at the Farmville Detention Center Attorney’s Office has not filed charges against the bystanders Daily Weather Report Powered By: Lithium evaporation ponds are seen at Albemarle Lithium production facility in Silver Peak Your browser is out of date and potentially vulnerable to security risks.We recommend switching to one of the following browsers: Stories you've missed since your last login: Recommended stories based on your interests: 2025 - The advanced planning phase is coming to a close the trail has been re-named the East CLT Connector The framework document detailing community engagement project vision and trail alignment will be available on this page in April We'll keep you informed as we know more about grant funding awarded for this project (PDF, 2MB) Click the image above for a larger version.  part of Corridors of Opportunity - Albemarle Road/Central Avenue the City of Charlotte launched the Corridors of Opportunity program to provide job creation long-term career paths for residents in six neighborhoods located along roadway corridors throughout the city The city selected the Albemarle Road Corridor as a priority through the Corridors of Opportunity program and conducted a robust study and community engagement process within the neighborhood to understand its residents' needs The city summarized findings from the study and community engagement process in the Albemarle Road Corridor Playbook(PDF, 12MB) which identifies next steps along with potential funding sources and partnerships During the planning and engagement process the following challenges were identified that could be addressed through the development of the Cultural Trail Framework Plan: Business & Job Diversity: The corridor has limited employment opportunities and few anchor institutions Corridor Aesthetics & Redevelopment: Albemarle Road would greatly benefit from beautification and investment in corridor aesthetics through redevelopment opportunities and protecting existing tree canopy Family & Youth: The Albemarle Corridor has many services catering to families the community needs more targeted activities and programming as well as community spaces to support these services Connectivity Options & Access: Even with existing sidewalks Albemarle Road is challenging and sometimes hostile environment for pedestrians and cyclists Opportunities to improve connectivity and access throughout the corridor include investing in new inclusive and multi-modal infrastructure One key opportunity that emerged from the community engagement process was the concept of a cultural trail that would provide multi-modal transportation for residents while celebrating the neighborhood’s cultural and ethnic diversity Those issues and the community idea of a cultural trail led to the recommendation of the Albemarle Cultural Trail with the following strategies: The project is roughly located along Albemarle Road and Central Avenue between Sharon Amity Road and WT Harris Boulevard The project team will engage the community over the course of several months to solicit feedback from the community that will inform the framework plan as it is being developed the following public meetings have taken place or are scheduled: 2025 - Final public meeting at Simmons YMCA Front row L to R: Albemarle engineers and graduates of SAU College of Science and Engineering Lance Colvin provost and vice president for Academic Affairs; Dr SAU director of development; and Ellie Baker To help bolster the future of engineering in South Arkansas has donated $20,000 to Southern Arkansas University’s Albemarle Endowed Professorship of Engineering The donation marks the latest effort Albemarle has made to help the University’s engineering program develop the future workforce Albemarle contributed $200,000 to establish the engineering program’s only endowed professorship— a faculty position funded by the endowment to support high-quality teaching and mentorship for SAU engineering students Albemarle also committed $100,000 to fund an endowment for equipment “Albemarle’s continued support is invaluable in helping us provide top-tier education and opportunities for our engineering students,” said Dr “Our mission is to help our students succeed and we’re grateful that Albemarle plays such a big role in making that happen.” Albemarle has operated in the Smackover Formation for 56 years; during this period the company has employed a significant number of SAU students and it’s always been a point of pride when we can recruit those students to join our company,” said Albemarle’s Brian Kirtley Albemarle’s involvement with the University dates back more than 25 years the company has donated more than $850,000 to support facilities “This contribution is a testament to the value of our relationship with Albemarle,” said Dr dean of SAU’s College of Science and Engineering “The company’s continued engagement and support enhance every aspect of our program from providing industry insights to equipping students with real-world experience We look forward to many more years of collaboration and growth together.” provides students with a complete college experience in a caring environment of service With more than 100 degrees in four distinct colleges and the School of Graduate Studies SAU initiates new degree programs to fit the needs of career and professional trends of today SAU proudly offers the Next Step Guarantee program ensuring that students receive the necessary resources and support to transition successfully from college to their chosen careers or graduate studies One person is dead and another is injured after a fatal single-vehicle crash in the Albemarle County village of Esmont Wednesday afternoon The identity of the deceased is being withheld until next of kin can be notified Albemarle County police and emergency personnel were dispatched around 3:21 p.m Wednesday to a reported wreck in the area of Irish Road and Chestnut Grove first responders located a vehicle that had struck a tree," police said in a statement "One adult passenger was pronounced deceased at the scene." The driver of the vehicle sustained non-life-threatening injuries and was transported to University of Virginia Medical Center in Charlottesville The Albemarle County Police Department Crash Reconstruction Team is investigating the crash Subscribe to our Daily Headlines newsletter ESMONT, VA (CVILLE RIGHT NOW) – UPDATED 12PM 5/1/25: Albemarle Police have released the identity for the deceased as 19-year old Ava G Neither Bright nor the driver were wearing seat belts at the time of the crash.adButlerLazyLoad("586598389138254168",100,["688449","688449","688449"],"177030"); Albemarle Police are investigating a Wednesday afternoon single vehicle crash that killed one and seriously hurt another in Esmont The call came in just before 3:30pm in the area of Irish and Chestnut Grove roads where first responders found a vehicle plowed into a tree While the driver was taken to UVA with serious an adult passenger was pronounced dead at the scene Police don’t know what happened and are investigating along with the department’s Crash Reconstruction Team Charlottesville, VA (CVILLE RIGHT NOW) – The Albemarle County and Charlottesville Police Departments are teaming up to bring back the “Safe Worship” event on May 16th a full-day safety training designed for local faith-based organizations the free event aims to equip houses of worship with the tools they need to improve safety full-day safety training event for our local faith community,” said Logan Bogert Public Information Officer for the Albemarle County Police Department adButlerLazyLoad("1481409866573566974",100,["688449","688449","688449"],"177030"); The training will cover a wide range of topics A special presentation from the FBI will focus on targeted threats to houses of worship which are considered soft targets by the Department of Homeland Security “They can be very vulnerable to threats including violence emphasizing the importance of preparation without creating fear in the community Registration is open through May 13 at albemarle.org/police with participation limited to three representatives per house of worship to accommodate space With nearly half of the 100 spots already filled churches from across Virginia have signed up “We’re hearing over and over that they really wanted to have some kind of training for their churches… This is definitely coming back bigger and better,” Bogart said The event is open to all denominations and offers a valuable networking opportunity for faith leaders statewide Listen to the full conversation:  adButlerLazyLoad("1473278963074264636",100,["688449","688449","688449"],"177030"); Olivia Davis is a Content Contributor for Cville Right Now More than a hundred people gathered outside the Albemarle County Courthouse to protest the apparent immigration arrest of a man who had just been cleared of a misdemeanor assault charge A video shared online showed him being picked-up by three men who were not in uniform – one of them wearing a ski mask A bystander tried to stop them and was threatened “Do not touch me or impede me in my lawful duties!" said one of the men "Do you have a warrant for his arrest?" the bystander asked Attorney and prosecuting you for assault on a federal officer The incident has alarmed lawyers like Nick Repucci a public defender who says someone could have been hurt “Did the sheriff’s department require these people to identify themselves Did they know this was going to take place beforehand?" he wondered "If this continues in our community and across the country something terrible is going to happen.” And he predicted this incident would make it more difficult for police and attorneys to investigate and prosecute crimes "Witnesses to events who have relevant information are going to be much less likely to cooperate with investigations much less willing to come to court and say what happened," he explained Protesters like Ilene Stephens blamed Governor Youngkin and called on Virginia’s senators to step in "They just pulled this man away and threw him in an unmarked van!" she recalled Albemarle County sheriff Chan Bryant later told the Daily Progress that the agents did show identification and warrant information to courthouse security before coming inside The Albemarle County prosecutor says he’s investigating the arrests at the courthouse Jim Hingeley said he's greatly concerned that arrests carried out in this way could escalate into violent confrontations He said those being picked up or bystanders might resist what appears on its face to be an unlawful assault and abduction This report, provided by Virginia Public Radio, was made possible with support from the Virginia Education Association CHARLOTTE, N.C., Feb. 12, 2025 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) today announced its results for the fourth quarter and full year ended December 31 Fourth Quarter and Full Year 2024 Results and Highlights(Unless otherwise stated Defined as Operating Cash Flow divided by Adj "We are taking decisive actions to reduce costs optimize our conversion network and increase efficiencies to preserve our long-term competitive position," said Kent Masters we expect dynamic market conditions to persist but remain confident in our ability to deliver value to stakeholders by increasing our financial flexibility strengthening our core capabilities and positioning Albemarle for future growth." Broad Actions Executed and Underway to Maintain Long-Term CompetitivenessIn 2024 and continuing into 2025 Albemarle has rapidly adjusted to market realities with steps that enhance our resilience Net income (loss) attributable to Albemarle Corporation $        75.3 $       693.0 $       385.6 Diluted earnings (loss) per share attributable to common shareholders $        0.29 $         5.55    Non-operating pension and OPEB items(a) Adjusted loss earnings per share attributable to common shareholders(a)(c) $         4.10 2023 figures presented under adjusted EBITDA definition that the company adopted beginning in 2024 Net sales for the fourth quarter of 2024 were $1.2 billion compared to $2.4 billion for the prior-year quarter a decline of 48% driven primarily by lower pricing and volumes in Energy Storage partially offset by higher volumes in Specialties (+3%) Net income attributable to Albemarle of $75 million increased year-over-year by $693 million primarily due to a $604 million lower of cost or net realizable value (LCM) charge recorded in the prior-year quarter and discrete tax benefits of $111 million primarily related to a tax valuation allowance in Australia Adjusted EBITDA of $251 million increased by $386 million from the prior-year quarter primarily due to favorable volume growth including the LCM charge in the prior-year quarter which more than offset margin compression and reduced equity earnings as a result of lower pricing in the lithium value chain The effective income tax rate for the fourth quarter of 2024 was 13.8% compared to (12.9)% in the same period of 2023 The rate in 2023 was impacted by the recording of a tax valuation allowance in China the effective income tax rates were 446.9% and (12.7)% for the fourth quarters of 2024 and 2023 with the increase primarily due to changes in geographic income mix and the impact of tax valuation allowances in Australia and China $           616.8 $        1,675.1 $       (1,058.3) $           133.7 $          (156.1) $           289.8 Energy Storage net sales for the fourth quarter of 2024 were $617 million due to lower pricing (-53%) and lower volumes (-10%) related to the timing of chemical-grade spodumene sales and planned lithium processing plant outages Adjusted EBITDA of $134 million increased $290 million as the benefit of lower spodumene costs and a $604 million LCM charge recorded in the fourth quarter of 2023 more than offset the impact of lower year-over-year pricing and volumes $           332.9 $           339.6 $             (6.7) $             72.9 $             29.8 $             43.0 Specialties net sales for the fourth quarter of 2024 were $333 million which more than offset higher volumes (+3%) Adjusted EBITDA of $73 million increased $43 million versus the year-ago quarter as productivity benefits and improved end-market demand more than offset lower prices $           281.9 $           341.5 $           (59.5) $             35.8 $             31.3 $               4.5 Ketjen net sales for the fourth quarter of 2024 were $282 million down 17% compared to the prior-year quarter as higher prices (+1%) were more than offset by lower volumes (-19%) Adjusted EBITDA of $36 million increased $4 million driven by favorable product mix and lower input costs Total Corporate Outlook ConsiderationsThe table below reflects expected outcomes for the total company based on recently observed lithium market price scenarios Equity in net income of unconsolidated investments (net of tax)(b) Specialties and Ketjen Outlook ConsiderationsSpecialties outlook reflects modest volume growth in key end markets led by pharma Adjusted effective tax rate dependent on lithium market prices and geographic income mix Cash Flow and Capital DeploymentCash from operations of $702 million for the year ended December 31 2024 decreased $623 million compared to the prior-year period This was driven by lower adjusted EBITDA and reduced dividends received from equity investments partially offset by inflows from working capital Capital expenditures of $1.7 billion were in-line with outlook considerations and decreased by $463 million versus the prior-year period Balance Sheet and LiquidityAs of December 31 Albemarle had estimated liquidity of approximately $2.8 billion including $1.2 billion of cash and equivalents $1.5 billion available under its revolver and $99 million available on other credit lines representing a debt covenant net debt to adjusted EBITDA of approximately 2.6 times The company's earnings presentation and supporting material are available on Albemarle's website at https://investors.albemarle.com (In Thousands Except Per Share Amounts) (Unaudited) Gain on change in interest in properties/sale of business Income (loss) before income taxes and equity in netincome of unconsolidated investments Income (loss) before equity in net income of unconsolidated investments Net (loss) income from continuing operations Income from discontinued operations (net of tax) Net income (loss) attributable to Albemarle Corporationcommon shareholders Basic earnings (loss) per share attributable to common shareholders $         0.29 $       (5.26) $       13.41 $       13.36 $           889,900 $      18,270,652 $        1,537,859   Accounts payable to related parties   Mandatory convertible preferred stock   Accumulated other comprehensive loss     Total Albemarle Corporation shareholders' equity Adjustments to reconcile net (loss) income to cash flows from operating activities: Non-cash restructuring and asset write-offs Dividends received from unconsolidated investments and nonmarketable securities net of effects of acquisitions and divestitures: Decrease (increase) in accounts receivable Decrease (increase) in other current assets (Decrease) increase in accounts payable to third parties (Decrease) increase in accounts payable to related parties (Decrease) increase in accrued expenses and income taxes payable Proceeds from sale of property and equipment Sales (purchases) of marketable securities Increase (decrease) in cash and cash equivalents See accompanying non-GAAP reconciliations below It should be noted that adjusted net income (loss) attributable to Albemarle Corporation adjusted net income (loss) attributable to Albemarle Corporation common shareholders adjusted diluted (loss) earnings per share attributable to common shareholders These non-GAAP measures should not be considered as alternatives to Net income (loss) attributable to Albemarle Corporation ("earnings") or other comparable measures calculated and reported in accordance with GAAP ALBEMARLE CORPORATION AND SUBSIDIARIESNon-GAAP Reconciliations(Unaudited) See below for a reconciliation of adjusted net income (loss) attributable to Albemarle Corporation to Net income (loss) attributable to Albemarle Corporation ("earnings") Adjusted net income (loss) attributable to Albemarle Corporation common shareholders is defined as net income (loss) after mandatory convertible preferred stock dividends EBITDA is defined as net income (loss) attributable to Albemarle Corporation before interest and financing expenses Adjusted net (loss) income attributable toAlbemarle Corporation Adjusted diluted (loss) earnings per shareattributable to common shareholders $        (1.09) $        (5.19) $        (2.34) $       15.22 In addition to the non-operating pension and OPEB items disclosed above $       (0.21) $            — $         9.77 $         0.06 Loss in fair value of public equity securities(5) $       (1.31) $         0.14 $         8.92 $         1.92 The Company took several actions during the year ended December 31 2024 as part of a broader effort that will focus on preserving its world-class resource advantages and placing Kemerton Train 2 in care and maintenance the Company recorded restructuring and asset write-off charges (gains) as described above of $3.8 million in Cost of goods sold during the three months and year ended December 31 and ($22.2) million and net charges of $1.2 billion during the three months and year ended December 31 in Restructuring charges and asset write-offs losses of $4.6 million and $26.1 million were recorded in Other income (expenses) net for the three months and year ended December 31 this resulted in after-tax (gains) losses of ($24.9) million and $1.1 billion or ($0.21) and $9.77 per share for the three months and year ended December 31 The tax impact includes a valuation allowance to reverse the tax benefits associated with the expenses recorded in Australia During the three months and year ended December 31 $0.3 million and $9.5 million of separation and other severance costs to employees in Corporate and the Ketjen business were recorded in Selling general and administrative expenses ($0.2 million and $7.2 million after income taxes general and administrative expenses for the three months and year ended December 31 2024 of $2.3 million and $6.2 million ($1.8 million and $4.9 million after income taxes and for the three months and year ended December 31 2023 of $5.1 million and $26.8 million ($4.0 million and $20.8 million after income taxes Goodwill impairment charge of $6.8 million ($5.3 million after taxes general and administrative expenses during the three months and year ended December 31 2023 related to our performance catalyst solutions ("PCS") business Included in Gain on change in interest in properties/sale of business 2023 is a gain of $71.2 million ($46.6 million after taxes or $0.40 per share) resulting from the restructuring of the MARBL joint venture with Mineral Resources Limited Losses of $4.8 million and $37.0 million recorded in Other income (expenses) net resulting from the net change in fair value of investments in public equity securities for the three months and year ended December 31 and a loss of $33.7 million recorded in Other income (expenses) 2024 resulting from the sale of investments in public equity securities ($3.7 million and $62.7 million after income taxes Losses of $79.1 million and $44.7 million ($59.6 million and $34.4 million after income taxes or $0.51 and $0.29 per share) recorded in Other income (expenses) resulting from the net change in fair value of investments in public equity securities Loss of $218.5 million ($214.9 million after income taxes general and administrative expenses resulting from agreements in principle to resolve a previously disclosed legal matter with the DOJ and the SEC related to conduct in our Ketjen business prior to 2018 Other adjustments for the three months ended December 31 net - $23.5 million of gains from the sale of assets at a site not part of our operations $9.5 million of income from PIK dividends of preferred equity in a Grace subsidiary a $1.4 million net gain primarily resulting from the adjustment of indemnification related to previously disposed businesses partially offset by $2.1 million of a loss related to the fair value adjustment of a nonmarketable security investment Other adjustments for the year ended December 31 general and administrative expenses - $5.3 million of expenses related to certain historical legal and environmental matters net - $40.9 million of gains from the sale of assets at sites not part of our operations $36.3 million of income from PIK dividends of preferred equity in a Grace subsidiary a $1.8 million net gain primarily resulting from the adjustment of indemnification related to previously disposed businesses and a $0.6 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations partially offset by $2.9 million of charges for asset retirement obligations at a site not part of our operations and $2.1 million of a loss related to the fair value adjustment of a nonmarketable security investment Cost of goods sold - $15.1 million loss recorded to settle an arbitration matter with a regulatory agency in Chile partially offset by a $4.1 million gain from an updated cost estimate of an environmental reserve at a site not part of our operations general and administrative expenses - $1.4 million of various expenses including for certain legal costs and facility closure expenses related to offices in Germany net - $8.4 million gain from PIK dividends of preferred equity in a Grace subsidiary $5.5 million of gains from the sale of investments and the write-off of certain liabilities no longer required and $3.0 million of a gain resulting from the adjustment of indemnification related to previously disposed businesses general and administrative expenses - $2.3 million of facility closure expenses related to offices in Germany $1.9 million of charges primarily for environmental reserves at sites not part of our operations and $1.8 million of various expenses including for certain legal costs and shortfall contributions for a multiemployer plan financial improvement plan net - $19.3 million gain from PIK dividends of preferred equity in a Grace subsidiary a $7.3 million gain resulting from insurance proceeds of a prior legal matter and $5.5 million of gains from the sale of investments and the write-off of certain liabilities no longer required partially offset by $3.6 million of charges for asset retirement obligations at a site not part of our operations and $0.9 million of a loss resulting from the adjustment of indemnification related to previously disposed businesses Included in Income tax expense for the three months and year ended December 31 2024 are discrete net tax benefits of $111.4 million primarily related to the impact of valuation allowances on a return to provision partially offset by the increase in a foreign tax reserve 2023 are discrete net tax benefits of $1.3 million The net benefits primarily related to foreign return to provisions partially offset by an uncertain tax position in Chile and excess tax benefits realized from stock-based compensation arrangements Income (loss) before income taxes and equity in net incomeof unconsolidatedinvestments $                      76,727 $                      10,613 other unusual and non-operating pension and OPEB items $                      27,495 $                    122,885 $                   (920,951) $                    118,878 $                   (915,665) $                    116,009 $                (1,763,825) $                      87,085 $                   (585,133) $                    224,999 $                    246,738 $                    430,277 $                    463,254 $                    427,403 from net income (loss) attributable to Albemarle Corporation $               702,068 $            1,139,778 Media Contact: Peter Smolowitz, +1 (980) 308-6310, [email protected]Investor Relations Contact: +1 (980) 299-5700, [email protected]