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Saturday, 31 January 2015, 03:55 HKT/SGT

Source: Lubrizol
Lubrizol Acquires EcoQuimica

CLEVELAND, Ohio, Jan 31, 2015 - (ACN Newswire) - The Lubrizol Corporation announces that it has acquired EcoQuimica Industria e Comercio Produtos Quimica Ltda., a manufacturer and supplier of coatings technology for products sold into decorative paints, textiles, cement, elastomeric coatings and paper coatings. Headquartered in Paulinia, a municipality in the state of Sao Paulo, EcoQuimica (formerly under common ownership with Mercia Industria e Comercio Produtos Quimica Ltda.) will expand Lubrizol's performance coatings footprint in the Latin America marketplace.

"The acquisition of EcoQuimica will enable Lubrizol to broaden our already comprehensive portfolio on a global basis and provide us a stronger local presence in this market," said Tesh Gor, vice president and general manager of Lubrizol Performance Coatings. "The combined technologies and knowledge of our two companies will allow us to provide our customers with more comprehensive solutions in both the global and regional markets.

In addition, Lubrizol recently purchased land adjacent to the EcoQuimica facility to support future expansion. "With the combined property situated in a prime location in Sao Paulo, Lubrizol plans to expand with the addition of a warehousing facility as well an applications and technical services lab," said Gilson Santos, Lubrizol vice president, Latin America.

EcoQuimica is now part of Lubrizol Advanced Materials, reporting into Lubrizol's Performance Coatings business. This transaction includes all intellectual property, trademarks and customer lists of EcoQuimica. Financial terms of the agreement were not disclosed.

About Lubrizol Performance Coatings

At Lubrizol, we develop coatings solutions that help our customers balance the aesthetics, durability, and functionality needs of their products for a wide array of surfaces and substrates. Our strength is in collaborating with customers to solve their toughest challenges - such as making coatings more durable, enhancing production efficiency and reducing environmental impact - without compromising performance. To learn more, contact your Lubrizol representative or visit www.lubrizol.com/coatings.

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 and 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 pharmaceuticals, and specialty materials, including plastics technology and performance coatings in the form of specialty resins and additives.

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 8,000 employees worldwide. Revenues for 2013 were $6.4 billion. For more information, visit www.lubrizol.com.

Media Contact
Mike Heil
Website: www.lubrizol.com


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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

Topic: Press release summary

From the Asia Corporate News Network

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