Lubrizol and Mitsui Chemicals Enter Alliance Agreement
(Thomson Reuters ONE) -
The Lubrizol Corporation
29400 Lakeland Boulevard, Wickliffe, Ohio 44092-2298
Lubrizol and Mitsui Chemicals Enter Alliance Agreement
Lubrizol to gain exclusive sales and marketing for LUCANT((TM)) technology
CLEVELAND and TOKYO - November 24, 2014 - The Lubrizol Corporation and Mitsui
Chemicals, Inc. announce that they have entered into an alliance agreement
making Lubrizol the exclusive worldwide seller and marketer of the LUCANT((TM))
polymer product range to the lubricant industry. This agreement will maximize
each company's strengths and utilizes a joint development approach to new
polymer R&D. LUCANT will be marketed as a viscosity modifier for lubricant
applications as well as a synthetic base fluid component for lubricant
formulations.
The addition of LUCANT significantly expands Lubrizol's portfolio of performance
polymers. Through Lubrizol's extensive application knowledge and testing
capabilities, Mitsui Chemicals expects to strengthen the appeal of LUCANT to the
lubricant oil industry and better respond to individual customer needs by
accelerating research and development efforts for new products and expanding
applications.
The LUCANT technology portfolio consists of well-established viscosity modifiers
primarily used for driveline and industrial applications, providing strong end-
user benefits in multiple applications. The products are typically used based
on their good balance of treat cost and performance, including good low
temperature characteristics, high shear stability, high viscosity index and
enhanced traction coefficient.
"Working with Lubrizol, we are confident we will be better positioned to support
the growing LUCANT business generated by our customers," said Koichiro Sato,
general manager, elastomers division functional polymeric materials business
sector, Mitsui Chemicals. "Additionally, we believe that the combination of
both our companies' individual strengths, expertise and capabilities will not
only enable new product development, but will also allow us to bring solutions
to the market faster."
"Mitsui Chemicals has a long history of polymer expertise and manufacturing
excellence, and we are delighted to have entered into this exclusive agreement,"
said Karen Allen, Lubrizol global business manager for viscosity modifiers. "The
addition of the LUCANT product line further expands our range of products and
capabilities, and allows us another powerful formulating tool as we focus on
delivering value and performance to our customers."
Lubrizol expects to begin supplying LUCANT products in the first quarter of
2015 and both Mitsui Chemicals and Lubrizol are committed to making the
transition as seamless as possible for existing LUCANT customers.
Mitsui Chemicals will continue to offer LUCANT for applications outside of the
lubricants industry (synthetic resin modifier), and focus on expanding
applications and developing sales of its high-performance polymer.
About Mitsui Chemicals (Tokyo: 4183, ISIN: JP3888300005)
Mitsui Chemicals' roots can be traced back to 1912 when it began producing raw
material for chemical fertilizers from coal gas byproducts, the first company in
Japan to do so. This undertaking significantly contributed to increasing
agricultural productivity, a major social issue at the time. Later, the company
evolved its technology from coal chemicals to gas chemicals, and in 1958 it
built Japan's first petrochemical complex and so provided impetus to Japan's
industrial sector. Today, the company boasts many world-class products with
sales standing at 1.5 trillion yen and with over 135 companies in 27 countries.
Its business portfolio includes environment-friendly materials for next-
generation vehicles, healthcare services to realize health and happiness in an
ageing society, packaging that ensures the reliability and safety of food
products, agrochemicals that contribute to increased production of food,
electronic materials, and environment-friendly materials for the energy sector.
Mitsui Chemicals will continue to contribute to solving social challenges with
its state-of-the-art technology and by "Creating New Customer Value through
Innovation".
More information can be found at http://www.mitsuichem.com/index.htm
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 Contacts
Kumiko Tahara or Yuuri Matsunaga
Mitsui Chemicals, Inc.
Corporate Communications Division
+81-3-6253-2100
Website: http://www.mitsuichem.com/
Becky Lamb
The Lubrizol Corporation
+1 440-347-5152
Website: www.lubrizol.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1872254]
Unternehmensinformation / Kurzprofil:
Datum: 25.11.2014 - 02:00 Uhr
Sprache: Deutsch
News-ID 355158
Anzahl Zeichen: 6875
contact information:
Town:
Wickliffe, Ohio
Kategorie:
Business News
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