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Operations

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The Lubrizol Corporation comprises the Lubrizol Additives and Lubrizol Advanced Materials business segments. Lubrizol generated $7 billion in revenue in 2015.[1] It is a subsidiary of Berkshire Hathaway and is headquartered in Wickliffe, Ohio.[2] As of 2016, it employs 9,000 people globally.[3]

Eric R. Schnur is president, chairman and CEO.[3][4]

With Lubrizol Additives, the company supplies additives for transportation, including additives for lubricating engine oils, fuels and other chemicals, and industrial lubricants.[5] Lubrizol Advanced Materials creates and sells specialty materials and chemicals used in consumer products for personal care, pharmaceutical and food industries; specialty materials under the TempRite, Hycar and Estane trademarks; and performance coatings under the trademarks Hycar, Sancure, Algan, Performax and Myflam.[6] Lubrizol had operated Lubrizol Oilfield Solutions, an oilfield chemicals and drilling fluids business, following the 2014 acquisition of Weatherford International businesses.[7] Bloomberg reported in February 2017 that Lubrizol eliminated the oilfield solutions business segment.[8]

Acquisitions and partnerships

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Lubrizol has grown its business through a number of acquisitions and partnerships in recent years. Among them:

  • Noveon (2004), producer of industrial chemicals for packaging, paints and textiles, as well as chemicals for personal-care products such as lotions and shampoos[9][10][11]
  • Metalworking additives from Lockhart Chemical Co. (2007)[12]
  • Dow Chemical Co.'s thermoplastic polyurethane business (2008) [13]
  • Nalco Company's Nalco Performance Products Group (2011), a personal care and household care specialty polymers and formulation additives business[14]
  • Merquinsa (2011), a maker of thermoplastic polyurethane[15]
  • Chemtool (2011), maker of custom-formulated greases[16]
  • Active Organics (2011), a specialty chemicals firm[17][18]
  • Lipotec (2012), a skin care products maker[19]
  • Vesta (2014), maker of catheters and tubing[20]
  • Weatherford International's engineered chemistry and drilling fluids businesses (2014)[21]
  • Warwick Chemicals (2015), produces stain-removal technologies[22]
  • Alliance with Mitsui Chemicals (2014) for Lubrizol to sell and market the Lucant polymer product line[23]
  • EcoQuimica (2015), maker of coatings[24]
  • Particle Sciences (2015), a drug developer[25]
  • Diamond Dispersions (2016), maker of water-based dye and pigment dispersions[26]

References

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  1. ^ "Top workplaces". The Plain Dealer. 2016. Retrieved 8 November 2016.
  2. ^ Erman, Michael (14 March 2011). "Buffett bets on emerging markets with Lubrizol buy". Reuters. Retrieved 8 November 2016.
  3. ^ a b Ramesh, Deepti (2 June 2016). "Lubrizol names next CEO". IHS Chemical Week. Retrieved 7 November 2016.
  4. ^ Louise Prance Miles (9 June 2016). "Lubrizol appoints new president and CEO". Global Cosmetics News. Retrieved 7 November 2016.
  5. ^ "Company overview of The Lubrizol Corporation". Bloomberg. Retrieved 8 November 2016.
  6. ^ "Company overview of Lubrizol Advanced Materials, Inc". Bloomberg. Retrieved 8 November 2016.
  7. ^ "Lubrizol Corp. agrees to buy oilfield chemicals, drilling fluids businesses of Weatherford International". Crain Communications. 1 December 2014. Retrieved 8 November 2016.
  8. ^ Buhayar, Noah (27 February 2017). "Berkshire's Lubrizol took $365 million loss on oilfield business". Retrieved 1 March 2017.
  9. ^ "Company news: Lubrizol will buy Noveon for $920 million in cash". The New York Times. 17 April 2004. Retrieved 1 November 2016.
  10. ^ Blumenthal, Karen (19 April 2004). "Lubrizol agrees to buy Noveon to broaden product offerings". The Wall Street Journal. Retrieved 1 November 2016.
  11. ^ Plunkett's Chemicals, Coatings & Plastics Industry Almanac 2009. Plunkett Research. 2008. ISBN 978-1-59392-465-2.
  12. ^ "Lubrizol announces metalworking acquisition". Tribology & Lubrication Technology. March 2007. Retrieved 8 November 2016.
  13. ^ Katz, Jonathan (5 January 2009). "Lubrizol acquires Dow termoplastics unit". IndustryWeek. Retrieved 8 November 2016.
  14. ^ Katie Schaefer (27 January 2011). "Lubrizol/Noveon acquires Nalco's personal care business". Cosmetics & Toiletries. Retrieved 8 November 2016.
  15. ^ "Lubrizol acquires Merquinsa creating a TPU titan". Plastics Today. 3 November 2011. Retrieved 8 November 2016.
  16. ^ Suttell, Scott (9 November 2011). "Lubrizol Corp. agrees to acquire Chemtool Inc". Crain Communications. Retrieved 8 November 2016.
  17. ^ Schaefer, Katie (13 December 2011). "Lubrizol agrees to acquire Active Organics". Cosmetics & Toiletries. Retrieved 8 November 2016.
  18. ^ Pooja Kondhia (13 December 2011). "Lubrizol acquires specialty chemicals firm Active Organics". Cosmeticsdesign.com. Retrieved 8 November 2016.
  19. ^ "Berkshire Hathaway's Lubrizol buys Spanish firm Lipotec". The Associated Press. 20 June 2012. Retrieved 8 November 2016.
  20. ^ Esposito, Frank (8 August 2014). "Lubrizol buys medical extruder Vesta". Plastics News. Retrieved 8 November 2016.
  21. ^ DeBenedetto, Paul (1 December 2014). "Lubrizol to shell out $825M for Weatherford businesses". Law360. Retrieved 1 November 2016.
  22. ^ "Lubrizol closes acquisition of Warwick Chemicals, Weatherford businesses". Processing Magazine. 6 January 2015. Retrieved 8 November 2016.
  23. ^ "Lubrizol announces Warwick Chemicals acquisition, Mitsui Chemicals alliance". Processing Magazine. 2 December 2014. Retrieved 8 November 2016.
  24. ^ "Lubrizol acquires Brazilian coatings maker". Crain Communications. 13 February 2015. Retrieved 8 November 2016.
  25. ^ Thayer, Ann M. (14 September 2015). "Particle Sciences goes to Lubrizol". Chemical & Engineering News. Retrieved 8 November 2016.
  26. ^ "Lubrizol acquires Diamond Dispersions". Coatings World. 6 July 2016. Retrieved 8 November 2016.
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