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| Thursday, 21 February 2013, 10:05 HKT/SGT | |
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Source: Lubrizol | |
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-- Aligns with increasing global CPVC growth and demand
-- Ensures global customer access to quality CPVC products
-- Plant operational by end of 2014 |
CLEVELAND, Ohio, Feb 21, 2013 - (ACN Newswire) - The Lubrizol Corporation announces today its plans to increase its chlorinated polyvinyl chloride (CPVC) resin capacity through a joint investment in a manufacturing facility with Sekisui Chemical Company, Ltd. The new facility, which is part of the company's Phase I capacity expansion, will be located in Thailand and will enable Lubrizol to meet its global customer demands, particularly in Asia Pacific. Initial resin capacity during this first phase will be 30,000 metric tons with a total investment of approximately $50 million over a two-year period and with full operation planned by the end of 2014, subject to regulatory approvals.
Phase I will be designed to allow for a future expansion as part of Phase II that will double the size of the plant to 60,000 metric tons with an additional investment of $50 million. The Phase II expansion is expected be operational by the end of 2016.
Lubrizol recognizes the global growth potential for CPVC products and is committed to ensuring product availability. CPVC resin manufactured at this site will be designed to meet Lubrizol's and Sekisui's required performance specifications and quality standards. Both companies will continue to independently market and sell CPVC resins and manufacture their own CPVC compounds for their respective customers.
"This is a significant step in expanding our CPVC business and we are pleased to be partnering with Sekisui on this effort," notes Eric Schnur, president of Lubrizol Advanced Materials. "We are committed to providing our customers with high quality CPVC products to support the global building and construction market. And with the construction of this new manufacturing facility, we are better positioned to support their future business growth."
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. Lubrizol's advanced CPVC technology, sold under the FlowGuard(R), BlazeMaster(R), Corzan(R) and TempRite(R) brands, delivers exceptional performance for the plumbing, fire sprinkler, industrial and other building and construction related applications.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is an innovative specialty chemical company that produces and supplies technologies to customers in the global transportation, industrial and consumer markets. These technologies include lubricant additives for engine oils, other transportation-related fluids and industrial lubricants, as well as fuel additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for personal care products and pharmaceuticals; specialty materials, including plastics technology and performance coatings in the form of specialty resins and additives. Lubrizol's industry-leading technologies in additives, ingredients and compounds enhance the quality, performance and value of customers' products, while reducing their environmental impact.
With headquarters in Wickliffe, Ohio, The Lubrizol Corporation owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 7,000 employees worldwide. Revenues for 2011 were $6.1 billion. For more information, visit www.lubrizol.com .
Media Contacts
Julie Young
+1-440-347-4432
Website: www.lubrizol.com
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Lubrizol via Thomson Reuters ONE
Topic: Press release summary
Source: Lubrizol
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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