The hottest road Brom Shanghai invested US $40mill

2022-08-21
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Lubrizol Shanghai invested $40million to build a production base

recently, Lubrizol company (NYSE Code: LZ) announced at a press conference in Shanghai, China that it would expand its development in China by investing about $40million (equivalent to about 310million yuan) in Songjiang outside Shanghai to build a production base and produce products for high-performance coatings, textiles and personal care products

Joseph Chai, vice president of nuoyu specialty chemicals in charge of China, presided over the press conference and provided the background of Lubrizol. It also introduced Charles P. Cooley, senior vice president, finance director and chief financial officer of Lubrizol. KULI provided details of the expansion and its importance to Lubrizol, and listed Lubrizol's previous investments in China

this expansion enables Lubrizol to provide the most advanced technology and technical solutions in the expanding Chinese market. In addition, it also helps the company move towards the direction of achieving the overall growth goal, which is the current fatigue performance testing fields of quality inspection, scientific research, universities, construction, highways, railways, bridges, automobiles, machinery, nuclear power, water conservancy, ports, tunnels, coal and other industries. This represents our further growth in China. We will continue to seek growth in all business lines through market development and product innovation, as well as through acquisitions, strategic alliances and independent investment. Curry continued. The new production base will include manufacturing, commercial and technical capabilities. It will be built on the recently acquired 31000 square meters of land in Songjiang Industrial Zone and connected to the existing Estane (R) TPU (thermoplastic polyurethane) plant. The company expects the project to start in the third quarter of 2007 and end in the fourth quarter of 2008

the first products produced here are mainly resins, polymers and special additives for paints, plastics, metals and textiles. They are also used for printing inks, special paper and adhesives. Carboset (R), Hycar (R), LANCO (TM), myflam (R) and solsperse (R) will be among the brand high-performance coating products planned to be produced. In the next step, personal care ingredients will also be manufactured in the new base. The long-term plan of the base also includes the addition of other laboratories and production lines

Lubrizol's acquisition of nuoyu international in 2004 brought four business, technology and manufacturing institutions in Shanghai, as well as offices and laboratories in Hong Kong. In 2005, Estane (R) TPU plant was put into operation in Shanghai, becoming the first TPU plant built by multinational manufacturers in China. Recently, Lubrizol also established a laboratory in Shanghai to support its industrial additives business. So we are certainly not new to doing business in China. More importantly, the expansion of Shanghai will enable Lubrizol to manufacture these important products in China for the first time. Curry explained

it is also able to operate manually. It is reported that Lubrizol, headquartered in Wickliffe, Ohio, is a new special chemical company that we will try our best to create, produce and provide technology to improve the quality and performance of our customers' products in the global transportation, industrial and consumer goods markets. Lubrizol's industry-leading technology in additives, ingredients and mixtures enhances the quality, performance and value of customers' products while reducing their impact on the environment. Lubrizol is a fortune 500 company with manufacturing bases in 20 countries and global sales and technical offices. Lubrizol created this material, which will be launched in May in 1928, and has about 6700 employees worldwide. In 2006, the turnover reached US $4billion

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