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Lubrizol and FinOlex Industries Join Hands to Process FlowGuard® Branded CPVC Pipes and Fittings in India

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News Release

Lubrizol and FinOlex Industries Join Hands to Process
 FlowGuard® Branded CPVC Pipes and Fittings in India

CLEVELAND and Pune INDIA, February 15, 2017 - The Lubrizol Corporation, inventors and the largest manufacturers of CPVC compound worldwide, and FinOlex Industries Limited, India's largest PVC pipes and fittings manufacturer, announce the signing of a FlowGuard® Processor agreement for the manufacturing and sale of FinOlex FlowGuard® Plus CPVC pipes and fittings in India. The product will be launched in the market by FinOlex Industries in April 2017 and will cater to housing and real estate segments. 

"Lubrizol is dedicated to supplying the highest quality CPVC compounds to service the Indian hot & cold water plumbing markets," explains Matthew Timmons, managing director, Lubrizol Advanced Materials India Pvt. Ltd. "Our partnership with FinOlex Industries highlights the need and importance of quality CPVC pipes and fittings made from time-tested CPVC compounds provided by Lubrizol. Since January 2016, we have been manufacturing these world quality materials from a state-of-the art plant in Dahej, Gujarat. Our association with FinOlex will further strengthen FlowGuard's commitment to delivering reliability in India through FinOlex's wide spread network in the country."

Timmons continues, "Since we introduced FlowGuard to the Indian market, we remained committed through our support of processors who continue to benefit from our more than 50 years of expertise in manufacturing and compounding.  Additionally, with the government's recent focus on housing for all, the infrastructure status given to real estate, loans offered at cheaper rates, introduction of the Real Estate Regulatory Act (RERA), GST & many other initiatives, the need for quality products to be used in the country is greater than ever."

Lubrizol introduced the resilient CPVC material into India nearly two decades ago. Since then, India's plumbers, engineers, builders and consultants have been reassured by the only material of its kind to be designed and approved to meet all global standards. 

Prakash Chhabria, executive chairman of FinOlex Industries Limited expressed his views on the special occasion, saying, "We are committed to strengthening the plumbing industry and our association with Lubrizol falls in line with the culture of FinOlex Industries in providing quality products 'Made in India' for the Indian market. We are confident about Lubrizol's global expertise in compounding and appreciate the work done by them in changing the plumbing industry from metal-based to CPVC-based piping.  With FlowGuard's raw material and support, our track record of providing superior products for our market is only strengthened. We look forward to a successful partnership."


About Lubrizol's CPVC Piping Systems and Materials Business
The Lubrizol Corporation's CPVC Piping Systems and Materials business is the innovator and world leader in chlorinated polyvinyl chloride (CPVC) resins and compounds. Our high-performance and low-combustibility CPVC technology can be found in FlowGuard® Pipe & Fittings, BlazeMaster® Fire Sprinkler Systems and Corzan® Industrial Systems designed for plumbing, fire protection and industrial piping applications. In addition, our CPVC product is also used in a variety of specialty applications serving diverse markets. Backed by robust research and development capabilities and the technical expertise of our piping systems consultants, billions of feet of our CPVC piping systems have been installed globally. For more information, visit lubrizolcpvc.com.

About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is a technology-driven global company that combines complex, specialty chemicals to optimize the quality, performance and value of customers' products while reducing their environmental impact. It produces and supplies technologies to customers in the global transportation, industrial and consumer markets. These 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 and personal care products and specialty materials encompassing polymer and coatings technologies, along with polymer-based pharmaceutical and medical device solutions. Our products for the oilfield market include technologies for exploration, production and transportation.

With headquarters in Wickliffe, Ohio, Lubrizol and its subsidiaries own and operate manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 9,000 employees worldwide. Revenues for 2015 were $7 billion. For more information, visit Lubrizol.com. 

About FinOlex Industries Limited
FinOlex Industries Limited, headquartered in Pune, is the market leader in the supply of PVC pipes & fittings for the agriculture and non-agricultural sector that includes housing, industry and construction. FinOlex Industries Limited is India's largest backward integrated PVC pipes and fittings' manufacturer with a production capacity of 2,80,000  MT per annum. Our state-of-the-art manufacturing plants at Pune and Ratnagiri in Maharashtra and Masar in Gujarat help to provide significant resources to better serve customers. Our own PVC resin manufacturing facility in Ratnagiri, set in technical collaboration with Uhde GmbH, Germany with Hoechst technology,  provide a consistent supply of superior quality resin to our pipe manufacturing plants which guarantees top line quality products. Our open sea cryogenic jetty, the first of its kind in the Indian private sector, has been the hallmark of our PVC complex. We are the first Indian PVC Pipes manufacturer to have been awarded the ISO 9001:2008 certification.

Our major strength lies in our skilled workforce. We recognize and attribute our operating excellence and success to our employees. We have an extremely strong presence throughout the country, with a wide network of over 17,000 dealers and sub-dealers who work as our extended arm in bringing quality products to customers. Our core values of quality, trust and integrity help us build an unbreakable bond with customers and stakeholders.

We believe in "Performance with Purpose" and are deeply concerned about society and our community. We have been actively working along with Mukul Madhav Foundation, our CSR partner, in contributing to the social and economic development of the underprivileged sections of society in and around our plants in Ratnagiri, Pune and Masar with special focus on education, healthcare, community development, environment and self-development. Our focus is on women and children, thus, enabling the deprived to improve their quality of life through good education and accessible healthcare facilities.

FinOlex Industries Limited most recently entered the "Limca Book of Records" for the largest number of plumber meets held in one day. The company has also been awarded 'Water Company of the Year' by The National CSR Leadership Congress & Awards, India's most Trusted Brand in the category "Manufacturing - Pipes" by Brand Trust Report, "Excellence in CSR" by Amity Global School, "Support and Improvement in Quality of Education" by Global CSR Excellence & Leadership Awards, "Top 100 Brands in the Architecture and Design Sector" by Economic Times and has also been conferred the BT CSR Excellence Award 2016 in the category "The Physically Challenged."

For more information, visit www.finolexwater.com or follow us on Twitter @finolexwater

Websites: www.lubrizol.com & www.finolexwater.com

For Further details please contact:

Media Contact
Onkar Kanekar
Onkar.Kanekar@lubrizol.com





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

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