Lubrizol Expands Estane(R) Engineered Polymers Product Offerings
Monday October 13, 10:00 am ET
CLEVELAND, Oct. 13 /PRNewswire-FirstCall/ -- The Lubrizol Corporation announced today that it will expand its Estane® Engineered Polymers product line with the purchase of the thermoplastic polyurethane (TPU) and conductive polymer business and assets from SK Chemicals Co., Ltd., a global leader in specialty chemicals and life sciences. In 2007 this business had annualized revenues of approximately $30 million. The deal closed on October 10, 2008.
With 50 years of industry experience, Lubrizol is a global leader in thermoplastic elastomers, marketing products under the Estane® Thermoplastic Polyurethane brand name. Estane TPU is an engineered, highly versatile thermoplastic elastomer that can be processed through film, sheet and fabric coating, extrusion molding, injection molding, calendaring, overmolding, and blowmolding for markets like wire and cable, hose and tube, optical, industrial, agriculture, and others.
"The combination of SK Chemicals' market presence in Asia Pacific, in particular Korea, along with Lubrizol's significant global position creates synergies and expanded product offerings that we believe will benefit all of our customers," said Mike Vaughn, Lubrizol vice president, Estane Engineered Polymers.
The agreement includes all commercial, production and research and development assets of the TPU and conductive polymer business of SK Chemicals, a Republic of Korea corporation. Over the next 12 to 18 months, marketing and production will be transitioned from SK Chemicals to Lubrizol, unifying the product offerings under the Estane Engineered Polymers product line.
Financial terms of the agreement were not disclosed.
About The Lubrizol Corporation
The Lubrizol Corporation is an innovative specialty chemical company that produces and supplies technologies that improve the quality and performance of our customers' products in the global transportation, industrial and consumer markets. These technologies include lubricant additives for engine oils, other transportation-related fluids and industrial lubricants, as well as fuel additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for personal care products and pharmaceuticals; specialty materials, including plastics technology and performance coatings in the form of specialty resins and additives. Lubrizol's industry-leading technologies in additives, ingredients and compounds enhance the quality, performance and value of customers' products, while reducing their environmental impact.
With headquarters in Wickliffe, Ohio, The Lubrizol Corporation owns and operates manufacturing facilities in 19 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 6,900 employees worldwide. Revenues for 2007 were $4.5 billion.
Source: The Lubrizol Corporation
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