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Saturday, 5 April 2014, 05:20 HKT/SGT

Source: Lubrizol
Lubrizol Breaking Ground on TempRite(R) CPVC Compounding Plant in India
- First major CPVC gloabal producer to construct operations in India
- Estimated investment of more than $50 million U.S.
- Plant expected to be operational during 1Q 2015

CLEVELAND, Ohio, Apr 5, 2014 - (ACN Newswire) - The Lubrizol Corporation announces the groundbreaking for a new TempRite(R) chlorinated polyvinyl chloride (CPVC) compounding plant in Dahej, India. Construction of this plant is an integral component of the company's previously announced $400 million global expansion of its resin and compounding manufacturing capacity. Further solidifying Lubrizol's commitment to the Indian market, investment in this new plant marks Lubrizol as the first major global producer of CPVC to establish operations in India. The estimated investment in the new plant is more than $50 million U.S., and it will have the capacity to produce approximately 55,000 metric tons of compounds annually.

The plant will be strategically located in the Gujarat Industrial Development Corporation (GIDC), which is one of the largest chemical parks in the country. Many of the raw materials required for Lubrizol's specialty chemical product portfolio are produced in GIDC. The plant is located near excellent infrastructure and is well-positioned geographically to serve the growing Indian market as well as support the emerging growth of the TempRite CPVC business in South Asia, the Middle East and East Africa.

"Our investment in India is a major step forward for our customers based in the region," explains Manoj Dhar, head of TempRite Engineered Polymers in South Asia. "With the projected growth of our FlowGuard(R) hot and cold plumbing system products, this plant will be instrumental in enabling us to better meet the growing demands in the market."

"Lubrizol remains committed to supplying our customers and manufacturing partners with quality piping solution products for their continued global growth," states John Nunnari, global general manager of TempRite Engineered Polymers. "Utilizing the most advanced compounding technology developed in the U.S., the India compounding plant is expected to provide us with a strong, reliable manufacturing base for India and other nearby markets."

A groundbreaking ceremony at the Dahej site on April 4 was attended by Eric Schnur, president of Lubrizol Advanced Materials; John Nunnari, global general manager of TempRite Engineered Polymers; Timothy Madden, managing director of Lubrizol Advanced Materials, South Asia; and various other members of the Lubrizol India management team.

Lubrizol is recognized as a global leader in reliability, quality and providing innovative solutions for its customers' high-performance application needs and remains committed to ongoing investment in its CPVC capabilities that support future growth. The company is dedicated to providing its customers with the highest quality piping product through its insistence on using only the best raw materials and strictly managing the resin and compound manufacturing processes.

Lubrizol's advanced polymer technology delivers exceptional performance for the plumbing, fire sprinkler, industrial and other building and construction related applications. The combination of Lubrizol's industry leading position in key global markets and its planned capacity expansion allows the company to better support its customers' growth with its FlowGuard(R), BlazeMaster(R), Corzan(R) and TempRite(R) brands.

Attachments: Two Digital Images

Members of Lubrizol's executive staff, guests and dignitaries ceremoniously break ground on the site of the Corporation's new CPVC compounding plant in Dahej, India.
(Left to right): Manoj Dhar, head of TempRite Engineered Polymers, India; Pawan Poddar, Managing Director, Asirvad Pipes Pvt. Ltd; Peter Clough, global plumbing leader and business manager, Europe, Middle East, Africa and India; John Nunnari, global general manager of TempRite Engineered Polymers; Eric Schnur, president of Lubrizol Advanced Materials; Sandeep Engineer, Managing Director, Astral Poly Technik Ltd.; Dhiren Maiseri, site head, Dahej plant; and Timothy Madden, managing director of Lubrizol Advanced Materials, South Asia.

President of Lubrizol Advanced Materials, Eric Schnur, unveils the Foundation Stone commemorating the beginning of construction of the Corporation's new CPVC compounding plant in Dahej, India.

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 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 7,500 employees worldwide. Revenues for 2013 were $6.4 billion. For more information, visit www.Lubrizol.com.

Media Contact
Julie Young
Website: www.lubrizol.com

LZ_CPVC__IndiaGB_02: http://hugin.info/143680/R/1774218/604996.JPG
LZ_CPVC_IndiaGB_01: http://hugin.info/143680/R/1774218/604995.JPG

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: Construction of Facility
Source: Lubrizol

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