Jump to content

Lubrizol: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
+sources, add sourced info
Lz maor (talk | contribs)
56 edits
m Corrected factual error - Leetsdale facility was owned by Weatherford International in May 2010
Line 38: Line 38:
On April 3, 2014, Lubrizol announced the setting-up of a US$ 50 million compound manufacturing unit in [[Dahej]], [[Gujarat]],<ref>{{cite news|last=Dutta|first=Vishal|title=Warren Buffet’s Lubrizol set up its first unit in Gujarat, may plan for 2nd unit|url=http://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/warren-buffets-lubrizol-set-up-its-first-unit-in-gujarat-may-plan-for-2nd-unit/articleshow/33187199.cms|accessdate=3 April 2014|newspaper=The Economic Times|date=3 April 2014}}</ref> which will be Buffett's first investment in India.<ref>{{cite news|title=Warren Buffet’s Lubrizol set up Rs. 300 crore unit at Dahej in Gujarat|url=http://deshgujarat.com/2014/04/03/warren-buffets-lubrizol-set-up-rs-300-crore-unit-at-dahej-in-gujarat/|accessdate=3 April 2014|newspaper=Desh Gujarat|date=3 April 2014}}</ref>
On April 3, 2014, Lubrizol announced the setting-up of a US$ 50 million compound manufacturing unit in [[Dahej]], [[Gujarat]],<ref>{{cite news|last=Dutta|first=Vishal|title=Warren Buffet’s Lubrizol set up its first unit in Gujarat, may plan for 2nd unit|url=http://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/warren-buffets-lubrizol-set-up-its-first-unit-in-gujarat-may-plan-for-2nd-unit/articleshow/33187199.cms|accessdate=3 April 2014|newspaper=The Economic Times|date=3 April 2014}}</ref> which will be Buffett's first investment in India.<ref>{{cite news|title=Warren Buffet’s Lubrizol set up Rs. 300 crore unit at Dahej in Gujarat|url=http://deshgujarat.com/2014/04/03/warren-buffets-lubrizol-set-up-rs-300-crore-unit-at-dahej-in-gujarat/|accessdate=3 April 2014|newspaper=Desh Gujarat|date=3 April 2014}}</ref>


In May 2010, an accidental release of [[ammonium persulfate]] at Lubrizol's [[Leetsdale, Pennsylvania]], facility resulted in the evacuation of 500 workers from the surrounding industrial park.<ref>[https://www.youtube.com/watch?v=6I5if_R351w "Hazmat Called To Leetsdale Chemical Spill"]. WTAE-TV Pittsburgh. May 27, 2010. Retrieved on November 17, 2015.</ref> On November 17, 2015, the same facility was destroyed by explosion and fire.<ref>{{cite news|url=http://www.post-gazette.com/local/north/2015/11/17/Fire-crews-battle-three-alarm-blaze-in-Leetsdale-Industrial-Park/stories/201511170172|title=Chemical fire at Leetsdale Industrial Park under control|publisher=Pittsburgh Post-Gazette|date=November 17, 2015|accessdate=November 17, 2015}}</ref> Workers at the Lubrizol Corporation's Oilfield Chemistry site were pouring [[hydraulic fracturing]] chemicals into a production tank when the fire started.<ref>{{cite news|url=http://democratherald.com/news/national/homes-evacuated-injured-at-chemical-warehouse-fire/article_37db9fa6-fa43-5194-9708-9492c0aede07.html|title=Evacuation lifted after fire at fracking chemical warehouse|publisher=Albany Democrat-Herald|date=November 17, 2015|accessdate=November 17, 2015}}</ref> The subsequent plume of ammonium persulfate and [[sodium chlorite]] forced the lockdown of several nearby high schools. Eight people were injured in the fire.<ref>{{cite news|url=http://triblive.com/news/allegheny/9458799-74/industrial-park-fire|title=Fire at Leetsdale Industrial Park causes evacuation|author=Elizabeth Behrman and Bobby Cherry|publisher=TribLive.com|date=November 17, 2015|accessdate=November 17, 2015}}</ref>
On November 17, 2015, Lubrizol's Leetsdale, PA facility was destroyed by explosion and fire.<ref>{{cite news|url=http://www.post-gazette.com/local/north/2015/11/17/Fire-crews-battle-three-alarm-blaze-in-Leetsdale-Industrial-Park/stories/201511170172|title=Chemical fire at Leetsdale Industrial Park under control|publisher=Pittsburgh Post-Gazette|date=November 17, 2015|accessdate=November 17, 2015}}</ref> Workers at the Lubrizol Corporation's Oilfield Chemistry site were pouring [[hydraulic fracturing]] chemicals into a production tank when the fire started.<ref>{{cite news|url=http://democratherald.com/news/national/homes-evacuated-injured-at-chemical-warehouse-fire/article_37db9fa6-fa43-5194-9708-9492c0aede07.html|title=Evacuation lifted after fire at fracking chemical warehouse|publisher=Albany Democrat-Herald|date=November 17, 2015|accessdate=November 17, 2015}}</ref> The subsequent plume of ammonium persulfate and [[sodium chlorite]] forced the lockdown of several nearby high schools. Eight people were injured in the fire.<ref>{{cite news|url=http://triblive.com/news/allegheny/9458799-74/industrial-park-fire|title=Fire at Leetsdale Industrial Park causes evacuation|author=Elizabeth Behrman and Bobby Cherry|publisher=TribLive.com|date=November 17, 2015|accessdate=November 17, 2015}}</ref> In May 2010, while under ownership of Weatherford International, the same facility experience an accidental release of [[ammonium persulfate]] which resulted in the evacuation of 500 workers from the surrounding industrial park.<ref>[https://www.youtube.com/watch?v=6I5if_R351w "Hazmat Called To Leetsdale Chemical Spill"]. WTAE-TV Pittsburgh. May 27, 2010. Retrieved on November 17, 2015.</ref>


==References==
==References==

Revision as of 21:46, 24 November 2015

Lubrizol Corporation
Company typeSubsidiary
IndustryChemicals
Founded1928
HeadquartersWickliffe, Ohio
Key people
James L. Hambrick (CEO)
ProductsLubricant additives; Specialty chemicals
RevenueApproximately $7 billion (2014)
Number of employees
Approximately 8,000
ParentBerkshire Hathaway
DivisionsLubrizol Additives, Lubrizol Advanced Materials, Lubrizol Oilfield Solutions
Websitewww.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 the setting-up of a US$ 50 million compound manufacturing unit in Dahej, Gujarat,[5] which will be Buffett's first investment in India.[6]

On November 17, 2015, Lubrizol's Leetsdale, PA facility was destroyed by explosion and fire.[7] Workers at the Lubrizol Corporation's Oilfield Chemistry site were pouring hydraulic fracturing chemicals into a production tank when the fire started.[8] The subsequent plume of ammonium persulfate and sodium chlorite forced the lockdown of several nearby high schools. Eight people were injured in the fire.[9] In May 2010, while under ownership of Weatherford International, the same facility experience an accidental release of ammonium persulfate which resulted in the evacuation of 500 workers from the surrounding industrial park.[10]

References

  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.
  7. ^ "Chemical fire at Leetsdale Industrial Park under control". Pittsburgh Post-Gazette. November 17, 2015. Retrieved November 17, 2015.
  8. ^ "Evacuation lifted after fire at fracking chemical warehouse". Albany Democrat-Herald. November 17, 2015. Retrieved November 17, 2015.
  9. ^ Elizabeth Behrman and Bobby Cherry (November 17, 2015). "Fire at Leetsdale Industrial Park causes evacuation". TribLive.com. Retrieved November 17, 2015.
  10. ^ "Hazmat Called To Leetsdale Chemical Spill". WTAE-TV Pittsburgh. May 27, 2010. Retrieved on November 17, 2015.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Lubrizol&oldid=692316753"