Lubrizol

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Lubrizol Corporation
Type Subsidiary
Industry Chemicals
Founded 1928
Headquarters Wickliffe, Ohio
Key people James L. Hambrick (CEO)
Products Lubricant Additives; Specialty Chemicals
Revenue $6.1 billion (2012)
Employees 7,000
Parent Berkshire Hathaway
Website http://www.lubrizol.com

The Lubrizol Corporation is a provider of specialty chemicals for the transportation, industrial, and consumer markets. These products include additives for engine oils and other transportation-related fluids, additives for industrial lubricants, and 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 coatings in the form of specialty resins and additives. In 2007, the company was listed as 512 on the Fortune 1000[citation needed]. It has since moved up to 453 on the 2010 list[citation needed].

On the basis of 2010 profitability metrics, total shareholder return (TSR) and earnings per share growth, Lubrizol was the top performing company among the 16 chemical companies that are on the Fortune 500.[1]

As of May 2011, the company was ranked at 1220 in the Forbes Global 2000 list, based on a combination of revenues, net income, assets and market value.[2]

On March 14, 2011, Berkshire Hathaway announced an agreement to purchase Lubrizol for US$9.7 billion.[3] This happened just weeks after a top Berkshire executive David Sokol made a major bet on the stock price with his own money.[4]

On April 3, 2014, Lubrizol announced setting up of USD 50 million compound manufacturing unit in Dahej, Gujarat.[5] This will be Warren Buffett's first investment in India.[6]

References[edit]

  1. ^ "2011 Fortune 500 List". CNN. 
  2. ^ "Forbes Global 2000 Ranking". 
  3. ^ "Wall Street down but resilient on Japan crisis". Herald Sun. The Herald and Weekly Times. 2011-03-15. Retrieved 2011-03-14. 
  4. ^ "David Sokol: Timeline of His Lubrizol Stock Purchases". The Wall Street Journal. 30 March 2011. 
  5. ^ Dutta, Vishal (3 April 2014). "Warren Buffet’s Lubrizol set up its first unit in Gujarat, may plan for 2nd unit". The Economic Times. Retrieved 3 April 2014. 
  6. ^ "Warren Buffet’s Lubrizol set up Rs. 300 crore unit at Dahej in Gujarat". Desh Gujarat. 3 April 2014. Retrieved 3 April 2014. 

External links[edit]