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The Lubrizol
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
Lubrizol
makes ingredients and additives for personal care products, pharmaceuticals and medical devices, specialty materials, including plastics technology, and coatings in the form of specialty resins and additives. Lubrizol
Lubrizol
is a subsidiary of Berkshire Hathaway
Berkshire Hathaway
and is headquartered in Wickliffe, Ohio. The company generated $6.5 billion in revenue in 2016[4] and has an employee headcount of approximately 8,300 people globally.[5] Eric R. Schnur is the current president, chairman and CEO.[3]

Contents

1 History 2 Operations

2.1 Lubrizol
Lubrizol
Additives 2.2 Lubrizol
Lubrizol
Advanced Materials

3 Acquisitions and partnerships 4 References 5 External links

History[edit] The Lubrizol
Lubrizol
Corporation was founded in 1928 as The Graphite Oil Products Company in Cleveland, Ohio, by father Frank A. Nason and son Francis A. "Alex" Nason, Thomas W. James and brothers Kent H. Smith, Vincent K. Smith and A. Kelvin Smith.[6][7][8] The company's first product was a graphite lubricant and applicator for early automobiles. In 1929, the company changed its name to The Lubri-Graph Corporation. It moved to Wickliffe, Ohio
Wickliffe, Ohio
in 1931.[7] In 1934, Lubri-Graph changed its name to The Lubri-Zol Corporation.[7] The name changed to Lubrizol in 1943.[9] The company went public on the New York Stock Exchange
New York Stock Exchange
in the 1960s. Toward the end of that decade, Lubrizol
Lubrizol
focused on developing products to help make cars cleaner and more fuel efficient. During the 1980s, the company created new additives for passenger motor oils, gear oils, hydraulic fluids and viscosity modifiers, while also eyeing biotechnology, agribusiness and specialty chemicals for other applications to expand beyond the transportation field.[7] Lubrizol
Lubrizol
acquired Noveon International in 2004 for US$ 920 million in cash and the assumption of US$ 920 million in debt.[10] That move, along with others, helped Lubrizol
Lubrizol
expand beyond its additives business and create a second business segment, Lubrizol
Lubrizol
Advanced Materials, producing industrial chemicals for packaging, paints and textiles, chemicals for personal-care products such as lotions and shampoos, and additives and ingredients for engineered polymers, in addition to products for the medical devices and pharmaceutical markets.[7][11][12][13] Berkshire Hathaway
Berkshire Hathaway
announced on March 14, 2011 that it would acquire Lubrizol
Lubrizol
for US$9.7 billion in cash.[14][15] This happened just weeks after a top Berkshire executive, David Sokol, made a major bet on the stock price with his own money.[16] That deal closed in September 2011.[17] In December 2014, Lubrizol
Lubrizol
bought Weatherford International's engineered chemistry and drilling fluids businesses in a deal valued at US$825 million.[18] This resulted in creation of the company's third business segment, Lubrizol
Lubrizol
Oilfield Solutions.[18] The company announced that it eliminated Lubrizol
Lubrizol
Oilfield Operations business segment in February 2017.[19] Lubrizol's expansion in other areas of business in the 2000s included a 10-year phased investment plan launched in 2010.[20] The plan, which sought to increase global capacity in additives, featured a plant in Zhuhai, China, among others.[20] Additionally, the company expanded its life sciences unit with the announcement of a $60 million investment to expand its excipient, global polymer and contract manufacturing plants. The new facilities are expected to provide a flow through process for customers.[21] Lubrizol
Lubrizol
took the majority stake in Lubrizol
Lubrizol
India Private Ltd., its Indian joint venture with Indian Oil Corp., in March 2017.[22] Operations[edit] The Lubrizol
Lubrizol
Corporation is broken down into two business segments, Lubrizol
Lubrizol
Additives and Lubrizol
Lubrizol
Advanced Materials. Lubrizol
Lubrizol
Additives[edit] With Lubrizol
Lubrizol
Additives, the company supplies additives for transportation, including additives for lubricating engine oils, fuels and other chemicals, and industrial lubricants.[23] Lubrizol
Lubrizol
Advanced Materials[edit] Lubrizol
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.[24] Lubrizol
Lubrizol
had operated Lubrizol
Lubrizol
Oilfield Solutions, an oilfield chemicals and drilling fluids business, following the 2014 acquisition of Weatherford International
Weatherford International
businesses.[25] Bloomberg reported in February 2017 that Lubrizol
Lubrizol
eliminated the oilfield solutions business segment.[19] Acquisitions and partnerships[edit] Lubrizol
Lubrizol
has grown its business through a number of acquisitions and partnerships in recent years. Among them:

Diamond Dispersions (2016), maker of water-based dye and pigment dispersions[26] Particle Sciences (2015), a drug developer[27] EcoQuimica (2015), maker of coatings[28] Warwick Chemicals
Chemicals
(2015), produces stain-removal technologies[29] Alliance with Mitsui Chemicals
Chemicals
(2014) for Lubrizol
Lubrizol
to sell and market the Lucant polymer product line[30] Weatherford International's engineered chemistry and drilling fluids businesses (2014)[18] Vesta (2014), maker of catheters and tubing[31] Lipotec (2012), a skin care products maker[32] Active Organics (2011), a specialty chemicals firm[33][34] Chemtool (2011), maker of custom-formulated greases[35] Merquinsa (2011), a maker of thermoplastic polyurethane[36] Nalco Company's Nalco Performance Products Group (2011), a personal care and household care specialty polymers and formulation additives business[37] Dow Chemical Co.'s thermoplastic polyurethane business (2008) [38] Metalworking additives from Lockhart Chemical Co. (2007)[39] Noveon (2004), producer of industrial chemicals for packaging, paints and textiles, as well as chemicals for personal-care products such as lotions and shampoos[11]

References[edit]

^ "Top workplaces". The Plain Dealer. 2016. Retrieved 8 November 2016.  ^ Erman, Michael (14 March 2011). "Buffett bets on emerging markets with Lubrizol
Lubrizol
buy". Reuters. Retrieved 8 November 2016.  ^ a b Ramesh, Deepti (2 June 2016). " Lubrizol
Lubrizol
names next CEO". IHS Chemical Week. Retrieved 7 November 2016.  ^ a b Scott, Mark (2017-08-01). " Lubrizol
Lubrizol
uses chemistry to change the world. Eric R. Schnur wants to take that to the next level". Smart Business. Retrieved 2017-10-16.  ^ a b "The Lubrizol
Lubrizol
Corporation". Retrieved 2017-10-18.  ^ Calvin H. Smalheer (1972). The Story of Lubrizol. Cleveland, Ohio: The Lubrizol
Lubrizol
Corporation. pp. 3–10. OCLC 622939.  ^ a b c d e Trotman, Andrew (14 March 2011). "Who are Lubrizol?". The Daily Telegraph.  ^ " Lubrizol
Lubrizol
Corp. - The Encyclopedia of Cleveland History". Encyclopedia of Cleveland History. Retrieved 1 November 2016.  ^ Lawrence A. Cunningham (2014). Berkshire Beyond Buffett: The Enduring Value of Values. New York City: Columbia University Press. p. 128. ISBN 9780231538695.  ^ "Company news: Lubrizol
Lubrizol
will buy Noveon for $920 million in cash". The New York Times. 17 April 2004. Retrieved 1 November 2016.  ^ a b Blumenthal, Karen (19 April 2004). " Lubrizol
Lubrizol
agrees to buy Noveon to broaden product offerings". The Wall Street Journal. Retrieved 1 November 2016.  ^ Jack W. Plunkett (2008). Plunkett's Chemicals, Coatings & Plastics Industry Almanac 2009. Plunkett Research. ISBN 9781593924652.  ^ Putrich, Gayle S. (24 February 2016). "Acquisitions lead Lubrizol
Lubrizol
to expanded offerings". Plastics News. Retrieved 15 November 2016.  ^ "Wall Street down but resilient on Japan crisis". Herald Sun. The Herald and Weekly Times. 2011-03-15. Retrieved 2011-03-14.  ^ Thomas, Helen (14 March 2011). " Berkshire Hathaway
Berkshire Hathaway
in $9bn Lubrizol deal". Financial Times. Retrieved 1 November 2016.  ^ "David Sokol: Timeline of His Lubrizol
Lubrizol
Stock Purchases". The Wall Street Journal. 30 March 2011.  ^ " Berkshire Hathaway
Berkshire Hathaway
closes on $9 billion deal for Lubrizol
Lubrizol
Corp. of Wickliffe". The Associated Press. 16 September 2011. Retrieved 15 November 2016.  ^ a b c DeBenedetto, Paul (1 December 2014). " Lubrizol
Lubrizol
to shell out $825M for Weatherford businesses". Law360. Retrieved 1 November 2016.  ^ a b Buhayar, Noah (27 February 2017). "Berkshire's Lubrizol
Lubrizol
took $365 million loss on oilfield business". Retrieved 1 March 2017.  ^ a b Suttell, Scott (21 August 2013). " Lubrizol
Lubrizol
opens big additives plant in China". Crain Communications. Retrieved 16 October 2017.  ^ McCafferty, Rachael (7 June 2017). " Lubrizol
Lubrizol
Corp. is investing $60 million in its LifeSciences business". Crain's Cleveland Business. Crain Publishing. Retrieved 16 October 2017.  ^ " Lubrizol
Lubrizol
Corp. to take majority stake in Indian joint venture". Crain Communications. 21 March 2017. Retrieved 16 October 2017.  ^ "Company overview of The Lubrizol
Lubrizol
Corporation". Bloomberg. Retrieved 8 November 2016.  ^ "Company overview of Lubrizol
Lubrizol
Advanced Materials, Inc". Bloomberg. Retrieved 8 November 2016.  ^ " Lubrizol
Lubrizol
Corp. agrees to buy oilfield chemicals, drilling fluids businesses of Weatherford International". Crain Communications. 1 December 2014. Retrieved 8 November 2016.  ^ " Lubrizol
Lubrizol
acquires Diamond Dispersions". Coatings World. 6 July 2016. Retrieved 8 November 2016.  ^ Thayer, Ann M. (14 September 2015). "Particle Sciences goes to Lubrizol". Chemical & Engineering News. Retrieved 8 November 2016.  ^ " Lubrizol
Lubrizol
acquires Brazilian coatings maker". Crain Communications. 13 February 2015. Retrieved 8 November 2016.  ^ " Lubrizol
Lubrizol
closes acquisition of Warwick Chemicals, Weatherford businesses". Processing Magazine. 6 January 2015. Retrieved 8 November 2016.  ^ " Lubrizol
Lubrizol
announces Warwick Chemicals
Chemicals
acquisition, Mitsui Chemicals alliance". Processing Magazine. 2 December 2014. Retrieved 8 November 2016.  ^ Esposito, Frank (8 August 2014). " Lubrizol
Lubrizol
buys medical extruder Vesta". Plastics News. Retrieved 8 November 2016.  ^ "Berkshire Hathaway's Lubrizol
Lubrizol
buys Spanish firm Lipotec". The Associated Press. 20 June 2012. Retrieved 8 November 2016.  ^ Schaefer, Katie (13 December 2011). " Lubrizol
Lubrizol
agrees to acquire Active Organics". Cosmetics & Toiletries. Retrieved 8 November 2016.  ^ Pooja Kondhia (13 December 2011). " Lubrizol
Lubrizol
acquires specialty chemicals firm Active Organics". Cosmeticsdesign.com. Retrieved 8 November 2016.  ^ Suttell, Scott (9 November 2011). " Lubrizol
Lubrizol
Corp. agrees to acquire Chemtool Inc". Crain Communications. Retrieved 8 November 2016.  ^ " Lubrizol
Lubrizol
acquires Merquinsa creating a TPU titan". Plastics Today. 3 November 2011. Retrieved 8 November 2016.  ^ Katie Schaefer (27 January 2011). "Lubrizol/Noveon acquires Nalco's personal care business". Cosmetics & Toiletries. Retrieved 8 November 2016.  ^ Katz, Jonathan (5 January 2009). " Lubrizol
Lubrizol
acquires Dow termoplastics unit". IndustryWeek. Retrieved 8 November 2016.  ^ " Lubrizol
Lubrizol
announces metalworking acquisition". Tribology & Lubrication Technology. March 2007. Retrieved 8 November 2016. 

External links[edit]

Official Website

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WorldCat Identities VIAF: 129315445 ISNI: 0000 0000 8884 3

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