Lubrizol Opens Applications and Business Center in Mumbai

December 11, 2010 8:34 am

Lubrizol Corporation, a specialty chemical company that produces and supplies technologies to customers in the global transportation, industrial and consumer markets opens a new regional Applications and Business Center in Mumbai to support its Advanced Materials business segment. 
 
The Lubrizol Corporation is a specialty chemical company that produces and supplies technologies to customers in the global transportation, industrial and consumer markets.  The Company opens a new regional Applications and Business Center in Mumbai to support its Advanced Materials business segment.  According to Eric Schnur, President, Lubrizol Advanced Materials, “It is an important milestone in the Company’s geographic expansion plan in South Asia”.
 
The location, in the newly built Jaswanti Landmark office complex in Mumbai, centers on a world class development and applications laboratory and also includes office space for commercial, technical and administrative talent.  The laboratory includes development, formulation and applications testing capabilities in multiple personal care and coatings applications as well as a world–class pharmaceutical application development center.  The site also supports Lubrizol’s business in engineered polymers, which is well known in India for its FlowGuard brand – a high performance engineered plastic widely used for hot and cold water delivery.  Estane Thermoplastic Polyurethane (TPU) is also a leading brand that has found acceptance globally in many applications including the transportation and sports shoe arenas.
 
“Lubrizol has a long history of investing in the South Asian market, particularly in India,” said Mr. Schnur.  “We view this market as a great opportunity for Lubrizol Advanced Materials, and our new site represents an important step in what we intend to be a long–term effort focused on growth and investment in this region.”  
 
Commenting on the potential in Indian market for Lubrizol’s business, Mr. Schnur said, “Lubrizol Corporation is the US$ 5 billion company and Indian market is US$ 200 million worth. The rate of growth in this market is much higher than that of Western Europe and North America. That’s why we are flowing our resources in India and other countries such as China and Brazil. In terms of number the Indian market may account for less, but the growth potential is huge”.
 
Lubrizol Advanced Materials focuses on branded specialty polymers and additives used in coatings, personal care and specialty plastics.  These products may not be evident to the end–user as they are typically used as performance enhancers in well–known global consumer products. The launch of the Application and Business Center is the next logical step in the introduction of these products in South Asia.  By providing applications research capability regionally, the company is better able to offer solutions to fit local customer needs.
“We see maximum opportunities in advance material segment where we have a strong presence. In plumbing we are one of the strongest players and achieving double digit growth. Due to the increasing activities in construction and other infrastructure development, the coatings and pipes segments are doing well. We see huge growth in personal care segment too”, Mr. Schnur adds.
 
At present, Lubrizol Advanced Materials has one manufacturing facility in India located in Vadodara.  This facility provides global supply of naturally derived thickeners used in the personal care market.  Lubrizol also has a joint venture with Indian Oil and operates a facility in Turbhe for the production of additives vital to the formulation of engine and transmission lubricants. Lubrizol continues their investment in support of the strategy to shorten supply lines to the customer, as well as offer the opportunity to customize products for the local market. “For Lubrizol Advance Material, we are targeting to double our business and reach up to US$ 200 million by 2015”, says Mr. Schnur.
 
Lubrizol India Limited (LIPL) was incorporated in 1966 with 60% equity held by the Government of India and 40% equity held by The Lubrizol Corporation, USA.  The company was restructured in March 2000 as Lubrizol India Private Limited (LIPL) with 50% equity held by Lubrizol and 50% held by Indian Oil Corporation Limited.  LIPL is a part of the Lubrizol Additives business segment, and it develops, manufacturers and markets specialty additives designed to enhance the quality, performance and value of customers’ products, specifically fuels and lubricants for the transportation and industrial markets. 
 
Lubrizol Corporation’s 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.