Ground Breaking Ceremony at New Lubrizol LUCANT Plant
CLEVELAND, April 29, 2019 - The Lubrizol Corporation announces the groundbreaking ceremony for a new plant within the Ichihara Works (Ichihara City, Chiba, Japan) to manufacture LUCANT(TM) hydrocarbon-based synthetic fluid.
LUCANT is a high performance, hydrocarbon-based, specialty synthetic fluid used primarily as a viscosity modifier. It is used in the most demanding applications including automotive driveline, industrial lubricants and greases, and is the approved choice for leading OEMs and global oil marketers. Mitsui Chemicals was the first manufacturer to offer this unique synthetic fluid which boasts industry leading efficiency and durability.
"This investment in additional LUCANT capacity will allow the Lubrizol Additives business to further optimize its strategic relationship with Mitsui Chemicals to meet the evolving and demanding needs of lubricant market, while ensuring we remain a trusted, reliable and secure supply partner," said Barrie Masters, global business director for the viscosity modifier business at Lubrizol.
Commercial operation at the new plant is planned for 2021 and Mitsui Chemicals, Inc. and The Lubrizol Corporation are excited to further invest in their partnership. In 2014, Lubrizol entered into an exclusory agreement with Mitsui Chemicals, Inc. to become the exclusive worldwide seller and marketer of the LUCANT polymer products in the lubricant industry.
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 8,700 employees worldwide. Revenues for 2018 were $6.8 billion. For more information, visit Lubrizol.com.
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Source: Lubrizol via Globenewswire