Lubrizol sells Bromborough site to D1 Oils

19 September 2006 03:45  [Source: ICIS news]

SINGAPORE (ICIS news)--Lubrizol is to sell its Bromborough, England manufacturing site to D1 Oils for £3.0m ($5.64m/€4.44m), the US-based specialty chemical maker said late Monday.

D1, a UK-based global biodiesel producer, plans to convert the 47-acre site to biodiesel production during 2007, Lubrizol added in a statement. It expects to close the sale by year end.

Lubrizol estimates that the sale of the site will save about $3-$5m in restructuring costs compared with tearing down its facilities.

Production of fuel and lube additives and specialty monomers at the Bromborough site has been transferred to Lubrizol’s facilities in France and Texas, it said.

The Wickliffe, Ohio-based company announced early last year its plans to phase out production at the Bromborough site by end-2006. It estimated then that restructuring costs, including employee severance and other plant closure costs, would be about $15m.

By: Jeanne Lim
+65 6780 4359

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