Chemical leader commits more than USD150 million across multiple projects to accelerate growth in India
Mumbai, June 19, 2023 – The Lubrizol Corporation, a global leader in specialty chemicals, is advancing its commitment to continued growth in India with several significant projects across its portfolio. The company is pledging more than 150 million USD of in-region investment, including breaking ground on India’s largest CPVC resin plant in Vilayat, Gujarat, doubling capacity at its site in Dahej, Gujarat, opening a grease lab in Navi Mumbai and enabling significant in-country job growth and innovation.
“India is among the fastest-growing global economies with a favorable climate for business investment, including regional growth in many of the industries we support,” said Lubrizol President and CEO Rebecca Liebert. “We are building on 50 years of success in India by adding new manufacturing, lab and R&D sites, supporting in-country innovation and adding jobs that capitalize on the great expanding workforce and business conditions in India, allowing us to serve needs not only in India but in surrounding countries.”
Lubrizol’s work in India dates back to 1966 when the company initiated in-region manufacturing for chemical additives supporting transportation and industrial markets. It's expanded significantly since that time, supporting a wide variety of industries through products and solutions purpose built for the region.
The company has been steadily growing its employee base in India with roles supporting both regional and global needs. It expects to enable 4,000 direct and indirect jobs through several new investment projects:
· Enabling World’s Largest CPVC Resin Production with Grasim Industries Limited. In 2001, Lubrizol introduced CPVC into the India market, which has represented a significant economic development opportunity for the region. Today India is amongst the largest consumers of CPVC, primarily in the form of plumbing pipe and fittings, and growing needs for clean water in all residential and commercial buildings will drive continued growth. Lubrizol and Grasim Industries Limited, a flagship company of the Aditya Birla Group, will break ground on the first phase of a 100,000 metric-ton state-of-the-art CPVC resin plant at Grasim’s site in Vilayat later this year. This will be the largest single-site capacity for CPVC resin production globally. The CPVC resin produced at Vilayat will enable product sold under Lubrizol’s FlowGuard® Plus, Corzan® and BlazeMaster® brands.
Providing Access to Clean Drinking Water by Doubling CPVC Capacity, Establishing R&D Capabilities in Dahej, Gujarat.
Lubrizol will double its existing CPVC compound capacity at Dahej, Gujarat, from existing 70,000MT to 140,000MT. Lubrizol also plans to setup a local R&D center, which will be its second global R&D center after North America. With this investment, Lubrizol becomes the only company in India with end-to-end CPVC capability and well poised to serve the needs of local Indian customers. This capacity will also cater to neighboring high growth markets like Nepal, Bangladesh and Indonesia.
· Supporting Transportation, Industrial Customers Across the World with Mumbai India Grease Lab, Turbhe Expansion.
Lubrizol is committed to supplying alternative high-performance, cost-effective industrial grease-thickening solutions to grease manufacturers around the world. Earlier this year Lubrizol announced the opening of a new grease lab in Navi Mumbai, India, to support the testing and development of calcium sulfonate greases with strong potential in the industrial grease market. Since 2020, the company’s Additives business has introduced more than 35 new blends for transportation and industrial applications localized in India, adding a new storage facility and filtration capabilities at its production site in Turbhe.
Meeting Personal Care, Home Care Needs of a Growing Middle Class and Doing it Sustainably. As the middle class in India continues to expand, demand is increasing for beauty and home products in region. As a leading partner for the beauty and home care industries, the company will continue to innovate sustainable solutions unlocking in-region opportunities for its partners. As a recent example, using detergent bars is a common practice for cleaning dishes and laundry in India. While these bars are economical, they can become soft and lose their usefulness if they remain wet for too long, leading to inconsistent cleaning and significant waste. The Lubrizol Home Care team established a Center of Excellence for laundry bars in Mumbai, part of which helped a global home care leader meet its sustainability goals while streamlining processes, earning Lubrizol a sustainability award from the customer earlier this year.
In addition to these significant projects, the company plans to continue to invest in Centers of Excellence capabilities in the years ahead to capitalize on the growth opportunity within the region.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, leverages its unmatched science and innovation to solve complex challenges for customers, drive sustainable and measurable results and help millions of people, communities and businesses around the world move cleaner, create smarter and live better every day. Founded in 1928, Lubrizol owns and operates more than 100 manufacturing facilities, sales and technical offices around the world and has more than 8,000 employees. For more information, visit www.Lubrizol.com.
No comments:
Post a Comment