Mumbai, Oct 5 (IBNS) The Lubrizol Corporation,an innovative specialty chemical company, on Friday announced its plans to expand its global CPVC (chlorinated polyvinyl chloride) manufacturing facilities by setting up a resin and compounding manufacturing facility in Deer Park, Texas, USA.
The additional capacity will serve Lubrizol building and construction customers on a global basis.
The new plant will require a total investment of approximately $125 million over a three-year period.
The world class facility is expected to be operational by fourth quarter 2014 and is designed to complement the company's existing CPVC manufacturing facilities.
Commenting on the expansion plan, Eric Schnur, president of Lubrizol Advanced Materials said, "By expanding our manufacturing footprint, we are ensuring future technology requirements are met and our responses to changes in demand are well managed.
"With this additional capacity, we will be in a much stronger position to better serve the needs of our existing and future customers globally."
Sharing his thoughts on the Indian market, Timothy Madden, managing director South Asia, Lubrizol Advanced Materials, said, "As India's growth continues and a large number of projects are planned in Tier 3 and Tier 4 towns, demand for innovative piping systems is expected to rise accordingly.
"To fulfill this demand, Lubrizol is set to strengthen its global capacity and supply chain."
"India is one of Lubrizol's top three focus countries for growth and we continue to evaluate and validate our manufacturing options, such as the potential for additional production and warehousing facilities in the region to support our growth strategy," Madden said.