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Lubrizol acquires Avid Product Development

August 05/2020

MOSCOW (MRC) -- US lubricant additives and specialties producer Lubrizol has acquired 3D printing company Avid Product Development for an undisclosed sum, said the company.

The 3D printing industry continues to rapidly grow, creating an immense opportunity for companies leveraging 3D printing services as part of their portfolios. Today, OEMs (original equipment manufacturers) interested in 3D printing are seeking partners who can assist in their efforts to integrate this new technology into their processes. Lubrizols materials, application and testing expertise coupled with Avids 3D printing design, prototyping and post-processing know-how will enable development of differentiated solutions for customers? and accelerate adoption of 3D printing in key industries.

"Lubrizol continues to invest in opportunities that bring new differentiated solutions to our customers, says Gert-Jan Nijhuis, General Manager, 3D Printing Solutions, Lubrizol Engineered Materials. The acquisition of Avid Product Development greatly enhances our ability as a 3D printing solution provider, offering complete product solutions from material development to printing and post processing services, delivering end-use products for our key markets."

As a result of this acquisition, we will have vast opportunities to demonstrate our capabilities in engineering, design and manufacturing with the support of an industry leader in materials development, applications and testing, added Doug Collins, founder of Avid Product Development.

Avid is headquartered in Loveland, Colorado and serves customers in the footwear, consumer goods, industrial and medical markets. Avid won the 2019 Colorado Company to Watch award, and continues to create innovative solutions, including designing and 3D printing of critical personal protection equipment (PPE) to meet the urgent needs of healthcare workers and essential businesses during the COVID-19 pandemic.

As MRC informed previously, in February 2016, speciality chemicals major Lubrizol Corporation announced the commencement of its USD50 million chlorinated polyvinyl chloride (CPVC) compounding plant in Dahej. This was the company's first CPVC compounding plant in the country, and it claimed that it is the first such in India by any global major.

According to ICIS-MRC Price report, negotiations over August shipments of suspension polyvinyl chloride (SPVC) to the domestic market began in the Russian market on Wednesday. Local producers announced a further price increase. Last month, amid a major rise in polyvinyl chloride (PVC) prices in foreign markets and a significant fall in supply due to scheduled outages for maintenance, Russian producers achieved a price increase of Rb6,000/tonne and higher. Russian producers also intend to raise their August prices by Rb1,500-2,000/tonne partially because of the weakening of the rouble against the dollar and high prices in Asia and Europe.

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.
Author:Anna Larionova
Tags:PVC, EPVC, SPVC, Lubrizol.
Category:General News
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