Albemarle Corporation (Albemarle), a leader in the global specialty chemicals industry, has announced that the company received two prestigious awards in the category of liquidity management.
Treasury & Risk, a leading publication dedicated to providing perspective on the trends, best practices and tools defining the future of finance and treasury, has named Albemarle, along with Google and Hilton Worldwide, a 2015 Alexander Hamilton Award winner in the category of liquidity management. The company's treasury department received this award in recognition of their successful design and implementation of a robust global liquidity structure following the acquisition of Rockwood Holdings, Inc., an effort that facilitated the efficient repatriation of cash to repay debt and support the ongoing growth and operational needs of the combined companies.
Additionally in 2015, Albemarle was the recipient of the TMI Star Award for liquidity management in association with BNP Paribas, presented by Treasury Management International (TMI) at the EuroFinance Conference held in Miami. TMI is a highly respected publication dedicated to promoting best practices and innovations in treasury management. This award specifically recognised the company's innovative redesign of its liquidity structure prior to the acquisition, and the efficient connection it allowed to the liquidity structure of Rockwood following the acquisition in January 2015.
Jennifer Winkle, Albemarle's Director of Corporate Finance (formerly assistant treasurer), was on hand to receive both of these coveted awards and expressed appreciation, "Overall, our liquidity project has been a flagship project for the group and the wider industry; we were honoured to be recognised for these achievements."
"We are thrilled to receive two of the profession's highest awards in recognition of our world class liquidity structure," said Lorin Crenshaw, Vice President Finance, Lithium and Advanced Materials (formerly treasurer). "The structure has enabled us to efficiently commence our deleveraging strategy, and will serve us well into the future."
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/20052016/albemarle-receives-two-liquidity-management-awards-3363/