Mitsui Chemicals and Lubrizol Enter Alliance Agreement
Lubrizol to gain exclusive sales and marketing for LUCANT™ technology
November 25, 2014
The Lubrizol Corporation
Mitsui Chemicals, Inc.
CLEVELAND and TOKYO – November 24, 2014 – The Lubrizol Corporation and Mitsui Chemicals, Inc. announce that they have entered into an alliance agreement making Lubrizol the exclusive worldwide seller and marketer of the LUCANT™ polymer product range to the lubricant industry. This agreement will maximize each company’s strengths and utilizes a joint development approach to new polymer R&D. LUCANT will be marketed as a viscosity modifier for lubricant applications as well as a synthetic base fluid component for lubricant formations.
The addition of LUCANT significantly expands Lubrizol’s portfolio of performance polymers. Through Lubrizol’s extensive application knowledge and testing capabilities, Mitsui Chemicals expects to strengthen the appeal of LUCANT to the lubricant oil industry and better respond to individual customer needs by accelerating research and development efforts for new products and expanding applications.
The LUCANT technology portfolio consists of well-established viscosity modifiers primarily used for driveline and industrial applications, providing strong end-user benefits in multiple applications. The products are typically used based on their good balance of treat cost and performance, including good low temperature characteristics, high shear stability, high viscosity index and enhanced traction coefficient.
“Working with Lubrizol, we are confident we will be better positioned to support the growing LUCANT business generated by our customers,” said Koichiro Sato, general manager, elastomers division functional polymeric materials business sector, Mitsui Chemicals. “Additionally, we believe that the combination of both our companies’ individual strengths, expertise and capabilities will not only enable new product development, but will also allow us to bring solutions to the market faster.”
“Mitsui Chemicals has a long history of polymer expertise and manufacturing excellence, and we are delighted to have entered into this exclusive agreement,” said Karen Allen, Lubrizol global business manager for viscosity modifiers. “The addition of the LUCANT product line further expands our range of products and capabilities, and allows us another powerful formulating tool as we focus on delivering value and performance to our customers.”
Lubrizol expects to begin supplying LUCANT products in the first quarter of 2015 and both Mitsui Chemicals and Lubrizol are committed to making the transition as seamless as possible for existing LUCANT customers.
Mitsui Chemicals will continue to offer LUCANT for applications outside of the lubricants industry (synthetic resin modifier), and focus on expanding applications and developing sales of its high-performance polymer.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is a technology-driven global company that combines complex, specialty chemicals to optimize the quality, performance and value of customers' products while reducing their environmental impact. It produces and supplies technologies to customers in the global transportation, industrial and consumer markets. These technologies include lubricant additives for engine oils, driveline and other transportation-related fluids and industrial lubricants, as well as additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for home care and personal care products and pharmaceuticals, and specialty materials, including plastics technology and performance coatings in the form of specialty resins and additives.
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 7,500 employees worldwide. Revenues for 2013 were $6.4 billion. For more information, visit www.lubrizol.com
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Mitsui Chemicals and Lubrizol Enter Alliance Agreement (PDF : 25.24KB)
