The Lubrizol Corporation on July 31 marks 80 years of innovation in the specialty chemical industry. To commemorate this significant milestone, Lubrizol is celebrating with its employees around the world, with activities ranging from organized lunches and dinners, to family days and picnics, to community-based activities.
"Many companies never reach such an impressive age, and I am extremely proud of our current and retired employees who are the key to the success of this organization and to achieving such a feat. It says a lot about our strengths as an enterprise," said James L. Hambrick, Lubrizol chairman, president and chief executive officer.
On July 31, 1928, the State of Ohio issued a certificate of incorporation to The Graphite Oil Products Company, located in Cleveland. Its inaugural product was a graphited lubricant and applicator, the first of many technologies that would help transform the transportation industry. The company was started with a handful of employees, $21,000 in capital and a vision of an organization based on innovation, integrity and mutual respect. Today, that vision remains the same, but now the company is a growing global specialty chemical leader with approximately 7000 employees located in 30 countries and $5.0 billion in revenues.
Hambrick continued, "While our company may have changed over time, we still remain an organization grounded by our founding fathers' guiding principles of building and maintaining an effective working environment where an invaluable group of employees can dedicate themselves to technology innovation and superior service for the purpose of making our customers successful and earning an appropriate return for our shareholders."
From additives for lubricating cars in the roaring 1920s, to the military equipment of World War II, to advanced formulations for 21st-century vehicles, Lubrizol has compiled an impressive list of technology firsts. In recent years, through acquisition and continued innovation, that list has been immeasurably enhanced with groundbreaking chemistries for the personal care, engineered materials and performance coatings markets. As a premier specialty chemical company, Lubrizol consistently delivers solutions that meet the needs of the modern marketplace.
"Lubrizol's enduring strategy for growth of the enterprise is realized through its most valuable assets – the dedication and creativity of its employees – to the benefit of all stakeholders. As we approach our ninth decade, that strategy is a proven foundation of success that will continue to sustain our future," concluded Hambrick.
About The Lubrizol Corporation
The Lubrizol Corporation is an innovative specialty chemical company that produces and supplies technologies that improve the quality and performance of our customers' products 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 19 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 6,900 employees worldwide. Revenues for 2007 were $4.5 billion.
