Lubrizol to Invest $200 Mn for Additive Manufacturing Facility in India
Last update on Jul 31, 2024
Lubrizol announces signing a Memorandum of Understanding (MOU) to purchase a 120-acre plot in Aurangabad, India. They plan to construct a new manufacturing facility to initially support the region's growing transportation and industrial fluid markets. The project's initial phase represents a projected investment of approximately $200 million, the company's largest ever in India, and builds on previously committed investment in the region.
Enhancing Additives Capacity & Capabilities
The plant will become the company's second-largest manufacturing facility globally. It will be Lubrizol's largest manufacturing facility in India when completed. Construction will progress in phases over the next several years with room for future expansion.
'Lubrizol has made meaningful investments in India for more than five decades,' said Flavio Kliger, president of Lubrizol Additives. 'This new state-of-the-art manufacturing facility will allow us to enhance our local capacity and capabilities for our additives business with the potential to support other Lubrizol businesses and regions in the future.'
The announcement of the Aurangabad plant signals the company's latest efforts to accelerate growth. It will also enhance its local-for-local capacity in the region.
'Lubrizol understands the importance of a local-for-local approach, from India-based manufacturing to in-region innovation to continued investment in a local talent,' said Bhavana Bindra, managing director, Lubrizol IMEA (India, Middle East and Africa). 'We look forward to continuing to be partners in progress to our customers and serve as a catalyst for growth and inspired breakthroughs."
'This announcement underscores our continued commitment to our employees, our partners and our customers in the region,' said Nitin Mengi, vice president, Lubrizol Additives IMEA and chairman & managing director, Lubrizol India Private Limited. 'The growing transportation and industrial markets in India represent a tremendous opportunity, and Lubrizol is thrilled to be a part of the bright future of these industries.'
In addition to supporting demand for India, this site will enable export opportunities to surrounding countries and other Lubrizol sites. The commencement of manufacturing at the site is expected to coincide with Lubrizol's 100th anniversary in 2028.
Source: Lubrizol
Source
Lubrizol