Lubrizol proceeds with 10-year investment plan

Wickliffe, Ohio-based additive maker Lubrizol Corp. announced its decision to proceed with a 10-year phased investment plan to upgrade operations and increase global capacity in additives. The centerpiece of the investment plan is a new, wholly-owned greenfield plant in China, supplemented by select debottlenecking projects and infrastructure improvements at existing plants in the United States and Europe. As part of the 10-year plan, Lubrizol has signed a letter of intent to reserve land use rights for a wholly-owned manufacturing site in South China within the Zhuhai Gaolan Port Economic Zone. The China plant will require an investment in excess of US$200 million over the next three years. (January 19, 2010)