Lubrizol is a specialty chemical company involved in specialty additives for lubricating oils. Lubrizol's engine oil additives, which account for over half of the company's sales, fight sludge build-up, viscosity breakdown and component wear. Its fuel additives are designed to control deposits and improve combustion. Lubrizol also makes additives (including surfactants and defoaming agents) for paints, inks, greases, metalworking, and other industrial markets.
In 2008, Lubrizol had approximately 6,970 employees at 34 facilities in 20 countries and sales of $5bn. The company also operates R&D facilities in Japan, UK and US. It has headquarters in Wickliffe, Ohio, US.
History
The Lubrizol Corporation was founded in 1928, as a manufacturer of graphite oil products. In 2004, it acquired Noveon International.
The company is organised into two business segments: the lubricant additives segment, also referred to as Lubrizol Additives and the specialty chemicals segment, also referred to as Noveon.
Lubrizol Additives (formally known as lubricant additives segment)
This division consists of additives for lubricating engine oils; additives for driveline oils; and additives for fuel products and refinery and oil field chemicals.
In addition, the company sells additive components and viscosity improvers within its lubricant and fuel additives product lines. Its product lines are generally produced in shared manufacturing facilities and sold largely to a common customer base.
Lubrizol Advanced Materials (formally known as Noveon specialty chemicals segment)
Lubrizol Advanced Materials is a global producer of advanced specialty chemicals, polymer-based formulations and chemical additives for a broad range of consumer and industrial applications. Noveon produces products for the use in:
Personal care, pharmaceutical, and household cleaning products;
Paints and coatings, inks, overprint varnishes, specialty papers, adhesives, and textiles;
Residential and commercial plumbing and fire sprinkler systems;
Film and sheet, wire and cable, medical applications, and automobile moulded parts;
Static control for electronic applications;
Antioxidants and accelerators for rubber, plastic, and lubricants;
Colourants, preservatives, flavours, and fragrances;
Foam control for food processing and industrial applications;
Explosives; and
Water-soluble polymers;
It has added several new businesses, these include:
Coating additives (surface modifiers, hyperdispersants, rheology control);
Specialty monomers;
Foam control products (additives, silicones, esters);
Additives for explosives (PIBSA-based emulsifiers); and
Surfactants, methyl glucosides, and lanolin.
Lubrizol
Strategy & Financial Highlights
The key goal for Lubrizol has been to make it one of the world’s largest and profitable specialty chemical companies. The company has set itself a 2010 sales target of $5.3bn. Lubrizol states that its key strategic focus is to achieve top line and earnings growth (Edited from “To our shareholders). ICIS also provides you with key financial data listed in table form.
More about Lubrizol Strategy & Financial Highlights
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