- Merger Between Allkem and Livent Completed on January 4, 2024
- Arcadium Lithium 2024 Outlook Highlighted by a 40% Increase in Lithium Carbonate and Hydroxide Volumes as a Combined Company
- Projecting $60 to 80 million of Realized Synergies / Cost Savings in 2024
- Slowing Pace of Expansion in Light of Current Market Conditions and to Optimize Capital Efficiencies Between Co-Located Projects
Arcadium Lithium plc (NYSE: ALTM, ASX: LTM, "Arcadium Lithium") reported results for the fourth quarter and full year of 2023 for Livent Corporation ("Livent") and provided select results for Allkem Limited ("Allkem"). The 2023 Form 10-K to be released by Arcadium Lithium will only include the historical results of Livent's operations since the merger closed after December 31, 2023.
Full calendar year 2023 revenue for the combined company on a pro forma basis was $2.0 billion. Arcadium Lithium expects to provide additional calendar year 2023 pro forma financials early in the second quarter of 2024 and will release combined results for the new company beginning with the first quarter of 2024.
"We are excited to officially begin operating as Arcadium Lithium, leveraging the strengths of two highly complementary organizations and continuing to grow as one of the leading producers of lithium chemicals globally," said Paul Graves, president and chief executive officer of Arcadium Lithium. "While lithium and energy storage market dynamics have changed considerably since our merger announcement in May, the underlying strategic merits of the transaction remain compelling. As a larger, more diversified and vertically integrated company, we are better positioned to meet the needs of our customers and have even greater flexibility to take advantage of opportunities available throughout market cycles."
