Lubrizol signs deal with Belgium-based CorruTech to manufacture, sell and distribute CorruTech's corrugated board technology, related products globally, excluding U.S., Canada; deal significantly strengthens Lubrizol's product portfolio, company says
December 8, 2011
– The Lubrizol Corporation and CorruTech N.V. announce today that the two companies have formed an agreement giving Lubrizol the exclusive rights to manufacture, sell and distribute CorruTech corrugated board technology and related products on a worldwide basis excluding the United States and Canada.
Under the agreement, Lubrizol will also assume responsibility for servicing CorruTech’s existing customers, and CorruTech will continue to provide Lubrizol with technical support for the foreseeable future.
“This agreement creates synergies that will significantly enhance the value proposition offered to customers of both companies over the long term,” explained Brian Marsicano, Lubrizol global business manager, performance coatings. “It significantly strengthens Lubrizol’s extensive product portfolio with CorruTech’s innovative technology and proven products and takes advantage of Lubrizol’s experience in the manufacture and sales of high performance products as well as our global infrastructure in distribution, customer service, and technical support for the paper and allied industries.”
We are excited to team up with Lubrizol in the manufacture, sales, distribution and servicing of our technologies and products,” said Philippe Ceulemans, managing director for CorruTech. “This relationship will provide our customers with support and infrastructure needed to take full advantage of our innovative new products and technologies for the corrugating industry.”
According to Marsicano, full implementation of the agreement is expected to be completed by the end of the year.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is an innovative specialty chemical company that produces and supplies technologies to customers in the global transportation, industrial and consumer markets. These technologies include lubricant additives for engine oils, other transportation-related fluids and industrial lubricants, as well as fuel additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for personal care products and pharmaceuticals; specialty materials, including plastics technology and performance coatings in the form of specialty resins and additives. Lubrizol’s industry-leading technologies in additives, ingredients and compounds enhance the quality, performance and value of customers’ products, while reducing their environmental impact.
With headquarters in Wickliffe, Ohio, The Lubrizol Corporation owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 7,000 employees worldwide. Revenues for 2010 were $5.4 billion. For more information, visit http://www.lubrizol.com/.
About CorruTech NV SA
Headquartered in Turnhout, Belgium, CorruTech has more than 15 years of experience in developing technologies and products for the worldwide corrugating industry. Its products and services include starch adhesive systems & additives, corrugators dry-end technology and double backer innovations and upgrades. For more information, visit http://www.corrutech.eu/.