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| Tuesday, 25 November 2014, 06:15 HKT/SGT | |
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Source: Lubrizol | |
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CLEVELAND, Ohio, Nov 25, 2014 - (ACN Newswire) - The Lubrizol Corporation announces it has signed an agreement to purchase Warwick Chemicals, a leading global developer, producer and supplier of stain removal technology with hygiene benefits. This acquisition will complement Lubrizol's existing home care product line, strengthening its strategy of providing high-value technology solutions to its global customers.
Headquartered in Mostyn, North Wales, Warwick Chemicals has strong positions with global and regional detergent producers. Their products are an essential element in laundry detergent powders and automatic dishwashing products used across five continents and in more than 50 countries. The transaction also includes Warwick Equest, a leading manufacturer of test swatches for fabric cleaning.
"Consistent with our long-term strategy and vision, we are always seeking to expand our portfolio with technologies that provide solutions, add value to our customer's products and deliver consumer benefits," said Rick Tolin, vice president and general manager of Lubrizol Personal and Home Care. "The acquisition of Warwick will complement Lubrizol's strong portfolio of rheology modifiers, functional polymers and surfactants, and will place us in an excellent position to offer integrated solutions to our customers."
Upon completion of the transaction, Warwick Chemicals will retain its company name and will become part of Lubrizol Advanced Materials, reporting into Lubrizol's personal and home care business. This transaction includes all intellectual property, trademarks and customer lists of Warwick Chemicals.
Financial terms of the agreement were not disclosed. The transaction is expected to close upon receipt of all customary regulatory approvals.
About Lubrizol Personal and Home Care
We develop, manufacture and market a broad range of specialty functional and active ingredients for skin care, hair care, bath and shower, and home care. Our innovative technologies deliver valuable consumer benefits, enhance functional performance, modify physical properties and deliver the right aesthetics to drive key consumer product claims. We are committed to providing our customers with powerful, proven solutions so they can formulate with confidence(TM).
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 and 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
Lee Roberts
+1-216-447-6117
Website: www.lubrizol.com
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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: Press release summary
Source: Lubrizol
https://www.acnnewswire.com
From the Asia Corporate News Network
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