Lubrizol
 |
|
| Subsidiary | |
| Industry | Chemicals |
| Founded | 1928 |
| Headquarters | Wickliffe, Ohio, United States |
|
Key people
|
James L. Hambrick (CEO) Eric R. Schnur (President & COO) |
| Products |
Lubricant additives Speciality chemicals |
| Revenue | US$7 billion (2015) |
|
Number of employees
|
9,000 |
| Parent | Berkshire Hathaway |
| Divisions | Lubrizol Additives Lubrizol Advanced Materials Lubrizol Oilfield Solutions |
| Website | www |
Lubrizol Corporation is a provider of speciality chemicals for the transportation, industrial, and consumer markets. These products include additives for engine oils and other transportation-related fluids, additives for industrial lubricants, and 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 coatings in the form of specialty resins and additives. In 2007, the company was listed as 512 on the Fortune 500. It has since moved up to 453 on the 2010 list.
On 14 March 2011, Berkshire Hathaway announced an agreement to purchase Lubrizol for US$9.7 billion. This happened just weeks after a top Berkshire executive, David Sokol, made a major bet on the stock price with his own money.
On 3 April 2014, Lubrizol announced the setting-up of a US$50 million compound manufacturing unit in Dahej, Gujarat, which will be Buffett's first investment in India.
On November 17, 2015, a fire occurred at Lubrizol's Oilfield Chemistry Leetsdale, Pennsylvania facility, formally owned by Weatherford International. The fire started in a manufacturing facility during the process of adding chemicals to a production tank that blends products used in oilfield applications, such as hydraulic fracturing. Chemicals housed in the facility included ammonium persulfate and sodium chlorite. During the fire, local authorities directed nearby businesses and residents on safety procedures, including evacuations and/or sheltering in place. Eight people reported injuries due to the fire. All were treated and released. As of December 2015, the cause of the fire is not yet known.
The Lubrizol Corporation was founded in 1928 as The Graphite Oil Products Company in Cleveland, Ohio, by father Frank A. Nason and son Francis A. "Alex" Nason, Thomas W. James and brothers Kent H. Smith, Vincent K. Smith and A. Kelvin Smith. The company's first product was a graphite lubricant and applicator for early automobiles. In 1929, the company changed its name to The Lubri-Graph Corporation. It moved to Wickliffe, Ohio in 1931. In 1934, Lubri-Graph changed its name to The Lubri-Zol Corporation. The name changed to Lubrizol in 1943.
...
Wikipedia