MUMBAI, November 23, 2010 – The Lubrizol Corporation (NYSE: LZ) announces today the opening of a new regional Applications and Business Center in Mumbai, India to support its Advanced Materials business segment. This is an important milestone in the company’s geographic expansion plan in South Asia. Eric Schnur, president, Lubrizol Advanced Materials, presided over the opening ceremony, which was attended by customers and other VIP invitees.
The location, in the newly built Jaswanti Landmark office complex in Mumbai, centers on a world class development and applications laboratory and also includes office space for commercial, technical and administrative talent. The laboratory includes development, formulation and applications testing capabilities in multiple personal care and coatings applications as well as a world-class pharmaceutical application development center. The site also supports Lubrizol’s business in engineered polymers, which is well known in India for its FlowGuard® brand - a high performance engineered plastic widely used for hot and cold water delivery. Estane® thermoplastic polyurethane (TPU) is also a leading brand that has found acceptance globally in many applications including the transportation and sports shoe arenas.
“Lubrizol has a long history of investing in the South Asian market, particularly in India,” said Schnur. “We view this market as a great opportunity for Lubrizol Advanced Materials, and our new site represents an important step in what we intend to be a long-term effort focused on growth and investment in this region.”
Lubrizol Advanced Materials focuses on branded specialty polymers and additives used in coatings, personal care and specialty plastics. These products may not be evident to the end-user as they are typically used as performance enhancers in well-known global consumer products. The launch of the Application and Business Center is the next logical step in the introduction of these products in South Asia. By providing applications research capability regionally, the company is better able to offer solutions to fit local customer needs.
At present, Lubrizol Advanced Materials has one manufacturing facility in India located in Vadodara. This facility provides global supply of naturally derived thickeners used in the personal care market. Lubrizol also has a joint venture with Indian Oil and operates a facility in Turbhe for the production of additives vital to the formulation of engine and transmission lubricants. Lubrizol continues their investment in support of the strategy to shorten supply lines to the customer, as well as offer the opportunity to customize products for the local market.
Lubrizol India Limited (LIPL) was incorporated in 1966 with 60% equity held by the Government of India and 40% equity held by The Lubrizol Corporation, USA. The company was restructured in March 2000 as Lubrizol India Private Limited (LIPL) with 50% equity held by Lubrizol and 50% held by Indian Oil Corporation Limited. LIPL is a part of the Lubrizol Additives business segment, and it develops, manufacturers and markets specialty additives designed to enhance the quality, performance and value of customers’ products, specifically fuels and lubricants for the transportation and industrial markets.
For more information about Lubrizol, visit www.lubrizol.com
