Bli medlem
Bli medlem

Du är här


Lubrizol: Lubrizol To Expand Painesville Township Plant

The Lubrizol Corporation

29400 Lakeland Boulevard, Wickliffe, Ohio 44092-2298

Lubrizol To Expand Painesville Township Plant
| * Enhances site as a key element in Lubrizol Additives' global supply chain |
| * Investment of approximately $100 million expected in five phases |
CLEVELAND, April 22, 2015 - The Lubrizol Corporation announces a five-year
expansion project at the company's Painesville Township, Ohio facility which
will increase capacity and improve site infrastructure. The expansion, which
is estimated to be complete by 2020, will support changing customer needs as
well as position the Painesville Township manufacturing facility to be
successful as a provider of key specialty products and services for Lubrizol
now and into the future.

The expansion investment is estimated at $100 million, and includes the
addition of new manufacturing capacity, updated automated packaging
capabilities, increasing of warehouse space, and improvement of staging and
loading of truck shipments. The expansion will include state-of-the-art bulk
transfer technology which is important to ensure product integrity, and is
expected to reduce in-plant traffic and congestion. Additionally, it will
improve the safety and efficiency of handling product drums and totes.

"The Painesville Township community has been a supportive partner of Lubrizol
since we began our operations there in 1956 and we are pleased to further
reinvest and expand at the location," stated Craig Hupp, Lubrizol Painesville
plant manager. "Through this important initiative, we will be better
positioned to meet the changing demands of our customers, ensure the
integrity and quality of our products, reinforce personal and environmental
safety and attract the workforce talent that is required to run our

Through a collaborative effort with Lake County Port Authority, Painesville
Township and Lake County Commissioners, Lubrizol obtained beneficial tax
incentives, which were instrumental in the company's decision to proceed with
the expansion. Additionally, through a grant from JobsOhio and refundable
job creation tax credits from the state, Lubrizol expects to add
approximately 25 new jobs at the facility which currently employs more than
300 full-time employees.

A groundbreaking ceremony was held at the plant earlier today. In attendance
were Lake County Commissioners, Kevin Malacek, Judy Moran and Dan Troy;
Painesville Township Trustees, Gabe Cicconetti, Chuck Hillier, Joshua Pennock
and Mike Manary; Mark Rantala, Lake County Port Authority; Jason Dunkle,
JobsOhio; Walt Good, Team NEO; Dave Fries, Lubrizol Additives director of
manufacturing for the Americas; Craig Hupp, Lubrizol Painesville Township
plant manager; Mark Sutherland, Lubrizol corporate vice president of global
communications and public affairs; Mike Vaughn, Lubrizol corporate vice
president, operations; and various other members of the Painesville Township
community and Lubrizol organization.

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 8,000 employees
worldwide. Revenues for 2014 were $7 billion. For more information, visit

Media Contact

Maureen Morreale



From left to right: Dave Fries, Mark Rantala, Judy Moran, Walt Good, Kevin
Malacek, Dan Troy, Mike Vaughn, Jason Dunkle, Gabe Cicconetti, Joshua
Pennock, Chuck Hillier, Mike Manary and Craig Hupp


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


Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.