MOSCOW (MRC) -- The Lubrizol Corporation has completed the acquisition in the United States and Canada of Weatherford International’s global oilfield chemicals business, known as Engineered Chemistry and its United States drilling fluids business, known as Integrity Industries, reported the company on its site.
Closings in the rest of the world will occur throughout 2015. The transaction was announced on December 1, 2014.
With the close of the transaction, Engineered Chemistry and Integrity Industries, along with Lubrizol’s legacy energy and water business and Berkshire Hathaway portfolio company, Lubrizol Specialty Products, Inc., will form Lubrizol Oilfield Solutions, a new business segment for the company. Lubrizol Oilfield Solutions joins the company’s other business segments, Lubrizol Additives and Lubrizol Advanced Materials. Within this new segment, Engineered Chemistry and Integrity Industries will operate substantially as they do now.
As MRC informed before, in April 2014, Lubrizol Corporation announced the groundbreaking for a new TempRite chlorinated polyvinyl chloride (CPVC) compounding plant in Dahej, India. Construction of this plant is an integral component of the company's previously announced USD400 million global expansion of its resin and compounding manufacturing capacity.
The Lubrizol Corporation, a Berkshire Hathaway company, is an innovative specialty chemical company that apart from its production develops and supplies technologies to customers in the global transportation, industrial and consumer markets. Lubrizol is providing innovative solutions for its customers high-performance application needs and remains committed to ongoing investment in its CPVC capabilities that support future growth. 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 2013 were USD6.4 billion.
MRC