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|Lubrizol Invests $60 Million to Expand Particle Sciences, Vesta and Other Facilities in 2017|
CLEVELAND, June 6, 2017 – Lubrizol LifeSciences continues to invest in its key capabilities. During this latest phase, a $60 million investment will focus on new product solutions, capacity expansion and additional cGMP manufacturing. These investments will strengthen the excipients, polymers, drug formulation and manufacturing, and medical device contract manufacturing capabilities at their global facilities.
LifeSciences will add commercial drug product manufacturing at its Particle Sciences facility in Bethlehem, PA. Leveraging the company's knowledge in complex formulations and production, the facility will be adjacent to the existing development and clinical trial manufacturing site, offering customers a seamless flow from development through manufacturing. This new space, which will be operational Q4 2017, will accommodate both sterile and non-sterile products, highly potent compounds, and organic solvent processing.
Additionally, LifeSciences is investing to expand its global facilities for excipients, polymers and contract manufacturing; with a focus on quality and efficiency. This capital investment will impact multiple sites to increase in-house engineering capacity across the LifeSciences portfolio of medical and pharmaceutical applications. This includes new investments in design, manufacturing and sterilization technologies for the production of interventional catheters and long-term implantable devices, an area of strategic importance to the medical device segment.
"We have significantly enhanced our capabilities through the combination of strong polymer technology, application know-how and world-class manufacturing," states Deb Langer, vice president, Lubrizol Personal Home and Healthcare. "As healthcare companies look for total solution providers, we continue to invest in the right areas to provide valuable offerings where our customers are experiencing the most growth."
About Lubrizol LifeSciences
Lubrizol LifeSciences links science to life. An in-depth understanding of functional polymer systems, combined with a portfolio of specialty materials, enables LifeSciences to deliver application-specific, quality solutions to the medical device and pharmaceutical industries. The combination of our polymer expertise, drug formulation development and quality contract manufacturing allows LifeSciences to offer our customers end-to-end solutions for success in the drug delivery market.
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, 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 specialty materials encompassing polymer and coatings technologies, along with polymer-based pharmaceutical and medical device solutions. Our products for the oilfield market include technologies for exploration, production and transportation.
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 9,000 employees worldwide. Revenues for 2015 were $7 billion. For more information, visit Lubrizol.com.