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| Wednesday, 28 May 2014, 12:50 HKT/SGT | |
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Source: Lubrizol | |
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CLEVELAND, Ohio, May 28, 2014 - (ACN Newswire) - The Lubrizol Corporation announces that it has received all necessary regulatory approvals for its previously announced joint investment in a chlorinated polyvinyl chloride (CPVC) resin manufacturing facility with Sekisui Chemical Company, Ltd. The joint investment, which was originally announced in February 2013, will be located in Thailand and is expected to be fully operational by late 2014 or early 2015.
Lubrizol's involvement in this joint investment is part of the company's multi-phased $400 million expansion of its global resin and compounding manufacturing capacity. In addition to the Thailand JV, Lubrizol recently broke ground on a new compounding plant in Dahej, India and is expanding its resin and compounding facility in Louisville, KY. Overall expansion efforts are expected to add 170,000 metric tons of CPVC resin and 200,000 metric tons of CPVC compound.
"Lubrizol recognizes the global growth potential for its highly valued TempRite(R) compounds and is committed to ensuring global product availability," said John Nunnari, global general manager of TempRite Engineered Polymers. "Our customers use these compounds to manufacture and market piping system products under the FlowGuard(R), BlazeMaster(R) and Corzan(R) brands. Through our capacity expansion efforts, we will be in a stronger position to meet global demand as well as better serve the needs of our existing and future customers to help them achieve their business success."
CPVC resins manufactured at the Thailand site will be designed to meet the differing and unique requirements of either Lubrizol or Sekisui's resin performance specifications and quality standards. Both companies will continue to independently market and sell their exclusive CPVC compounds, which are designed to meet the specific performance and market requirements of their respective customers.
Lubrizol is recognized as a global leader in reliability, quality and providing innovative solutions for its customers' high-performance application needs and remains committed to ongoing investment in its CPVC capabilities that support future growth. The company is dedicated to providing its customers with the highest quality piping product through its insistence on using only the best raw materials and strictly managing the resin and compound manufacturing processes.
Lubrizol's advanced polymer technology delivers exceptional performance for the plumbing, fire sprinkler, industrial and other building and construction related applications. The combination of Lubrizol's industry leading position in key global markets and its planned capacity expansion allows the company to better support its customers' growth with its FlowGuard, BlazeMaster and Corzan brands.
About The Lubrizol Corporation's CPVC Business
The Lubrizol Corporation is the innovator and world leader in chlorinated polyvinyl chloride (CPVC) resins and compounds. Our high performance and low-combustibility CPVC technology can be found in FlowGuard(R) Pipe & Fittings, BlazeMaster(R) Fire Sprinkler Systems and Corzan(R) Industrial Systems designed for a wide variety of applications including plumbing, fire protection and industrial piping. Backed by robust research and development capabilities and the technical expertise of our piping systems consultants, billions of feet of our CPVC piping systems have been installed globally. For more information, visit www.lubrizolcpvc.com.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is a technology-driven global company that combines complex, specialty chemicals to optimize the quality, performance and value of customers' products while reducing their environmental impact. It produces and supplies technologies to customers in the global transportation, industrial and consumer markets. These technologies include lubricant additives for engine oils, driveline and other transportation-related fluids, industrial lubricants, as well as additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for home care and personal care products and pharmaceuticals, and specialty materials, including plastics technology and performance coatings in the form of specialty resins and additives.
With headquarters in Wickliffe, Ohio, Lubrizol owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 7,500 employees worldwide. Revenues for 2013 were $6.4 billion. For more information, visit www.lubrizol.com.
Media Contact
Michael Taylor
Marketing Communications Manager, Lubrizol CPVC
michael.taylor@lubrizol.com
+1-216-447-5914
Website: www.lubrizolcpvc.com
Celeste Conklin
AKHIA Public Relations & Marketing Communications
+1-330-463-5650
celeste.conklin@akhia.com
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Lubrizol via Globenewswire
Topic: Joint Venture
Source: Lubrizol
https://www.acnnewswire.com
From the Asia Corporate News Network
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