Lubrizol Breaks Ground on Polyisobutylene Unit in Deer Park, Texas
(Thomson Reuters ONE) -
News Release
Lubrizol Breaks Ground on Polyisobutylene Unit in Deer Park, Texas
CLEVELAND, March 23, 2017 - The Lubrizol Corporation announces that in
conjunction with its previously announced technology license agreement with
Daelim Industrial, it has begun construction of a new polyisobutylene (PIB) unit
at its Deer Park, Texas facility. Construction of this unit is consistent with
Lubrizol continuing to renew its additive infrastructure as part of the
company's previously announced 10-year phased investment plan. The plan is
designed to upgrade and enhance Lubrizol's global capabilities.
Commenting on the new unit, Dan Sheets, president of Lubrizol Additives, states
"With this significant investment, Lubrizol intends to meet future customer
demands, as well as be fully prepared for anticipated performance upgrades in
lubricants and fuels."
The new unit is expected to be fully operational in the first half of 2019. It
will provide Lubrizol with capacity for highly reactive polyisobutylene (HR
PIB), a key raw material for next-generation dispersants and lubricants.
A groundbreaking ceremony was held at the plant on March 22. In attendance was
Deer Park Mayor, Jerry Mouton; Deer Park Independent School District
Superintendent, Victor White; Daelim Industrial Petrochemical division president
and chief executive officer, Jaeyul Kim; Eric Schnur, Lubrizol chairman,
president and chief executive officer; Dan Sheets, senior vice president and
president of LZA; Tanya Travis, general manager of Lubrizol Texas plants; Mike
Vaughn, Lubrizol corporate vice president, operations; and various other members
of the Deer Park community and Lubrizol, as well as members of the company's
various partnering organizations.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is a market-driven
global company that combines complex, specialty chemicals to optimize the
quality, performance and value of customers' products while reducing their
environmental impact. It is a leader at combining market insights with chemistry
and application capabilities to deliver valuable solutions to customers in the
global transportation, industrial and consumer markets. Lubrizol improves lives
by acting as an essential partner in our customers' success, delivering
efficiency, reliability or wellness to their end users. 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,
personal care and skin care products and specialty materials encompassing
polymer and coatings technologies, along with polymer-based pharmaceutical and
medical device solutions.
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 8,300 employees worldwide.
Revenues for 2016 were $6.5 billion. For more information, visit Lubrizol.com.
Media Contact
Maureen Morreale
440-347-1356
Website: www.lubrizol.com
From left to right: R.B. Herrscher, senior vice president of petrochemicals for
Enterprise
Products Partners; Mike Vaughn, Lubrizol corporate vice president, operations;
Jaeyul Kim,
president and chief executive officer of Daelim Industrial Petrochemical
division; Eric Schnur,
Lubrizol chairman, president and chief executive officer; Steven Demetriou,
chief executive
officer of Jacobs Engineering Group; Jerry Mouton, Mayor of Deer Park; Dan
Sheets, senior
vice president and president of Lubrizol Additives; Victor White, Superintendent
of Deer Park
Independent School District; and Tanya Travis, general manager of Lubrizol Texas
plants.
###
Groundbreaking photo:
http://hugin.info/143680/R/2090262/789294.jpg
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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
Unternehmensinformation / Kurzprofil:
Datum: 23.03.2017 - 19:55 Uhr
Sprache: Deutsch
News-ID 532214
Anzahl Zeichen: 4876
contact information:
Town:
Wickliffe, Ohio
Kategorie:
Business News
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