MOSCOW (MRC) -- Lubrizol Corp. has received all necessary regulatory approvals to proceed with its previously announced chlorinated polyvinyl chloride (CPVC) joint venture with Sekisui Chemical Co. in Thailand, said the company in its press release.
Lubrizol said the partners will invest about USD50-million to build a 30,000-t/y CPVC resin plant in the first phase. This phase, for which a specific location was not given, is expected to be fully operational by late 2014 or early 2015.
A second phase will double capacity to 60,000 t/y with a further USD50-million investment and is scheduled to begin production by the end of 2016.
Lubrizol's involvement in the joint venture is part of a multi-phased USD400-million expansion of the company's global CPVC resin and compounding manufacturing capacity. Lubrizol is building a new 55,000-t/y resin and 65,000-t/y compounding plant in Louisville, Ky., and a new compounding plant and warehouse in Dahej, India. In April 2014 Lubrizol announced the groundbreaking for a new TempRite chlorinated polyvinyl chloride (CPVC) compounding plant in Dahej, India.
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's advanced polymer technology delivers exceptional performance for the plumbing, fire sprinkler, industrial and other building and construction related applications. 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.
MRC