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| Tuesday, 8 December 2015, 22:30 HKT/SGT | |
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Source: Lubrizol | |
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CLEVELAND, Ohio, Dec 8, 2015 - (ACN Newswire) - The Lubrizol Corporation's LifeSciences business is investing $15 million to expand its global manufacturing facilities, positioning LifeSciences to better serve the growing market for medical device contract manufacturing. Since 2014, Lubrizol LifeSciences has solidified its presence in the life sciences market by introducing new products and making strategic acquisitions. This capital investment will expand multiple facilities and increase Lubrizol LifeSciences' in-house engineering capacity for both silicone and thermoplastic products.
"We have significantly enhanced our capabilities through the combination of strong polymer technology, application know-how and world-class component manufacturing," states Deb Langer, vice president and general manager, Lubrizol LifeSciences. "As healthcare companies look for total solution providers, we continue to invest in the right areas to provide valuable offerings to our customers."
Vesta, Inc., acquired by Lubrizol in August of 2014, is a leading contract manufacturer for the global medical device industry. With the addition of Vesta, Lubrizol LifeSciences now offers disposable and implantable silicone medical components and assemblies across a wide product portfolio, as well as precision thermoplastic extruded tubing. The recent acquisition of Particle Sciences, Inc., a leading contract drug development and manufacturing organization, has positioned Lubrizol LifeSciences as one of the most comprehensive drug delivery device solution providers, offering end-to-end solutions in the healthcare market.
"When customers partner with Lubrizol LifeSciences, they benefit from working with us at every stage in their development process," states Robert Miller, global business director, medical devices. "With a long history of polymer expertise and significant investment, Lubrizol LifeSciences is positioned to offer full-service development for next generation medical and pharmaceutical innovations."
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. Our products for the oilfield market include technologies for exploration, production and transportation.
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 9,000 employees worldwide. Revenues for 2014 were $7 billion. For more information, visit Lubrizol.com.
Media Contact
Ben Patti
+1-216-447-5827
www.lubrizol.com/LifeSciences
www.vestainc.com
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Source: Lubrizol via Globenewswire
Topic: Press release summary
Source: Lubrizol
https://www.acnnewswire.com
From the Asia Corporate News Network
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