(Reuters) - Lithium producer Albemarle Corp is exploring the sale of its surface-treatment division for about $3 billion, Bloomberg reported, according to people familiar with the matter. (http://bloom.bg/1OoF3Lj)
The Chemetall unit is a global supplier of specialty chemicals used in surface treatment of metals and plastics.
A sale of the unit could help the company pay down the debt from its $6.2 billion acquisition of Rockwood Holdings Inc in 2015. Chemetall was a part of the deal.
Bank of America Corp has been hired to help consider strategic options for Chemetall, the people said.
Albemarle hasn't made a final decision about whether to sell, and no formal auction is currently taking place, one of the sources told Bloomberg.
Albermarle was not immediately available for comment.