Lubrizol in Nalco acquisition

This acquisition, structured as an asset sale, will expand the strategic portfolio of Lubrizol’s Noveon Consumer Specialties Home and Personal Care product line. For the 12 months ended December 2010, estimated sales of the Nalco personal care business are $45 million. The deal closed on 21 January 2011. “The joining of our two personal care product lines creates a portfolio of industryleading technologies that will help make our combined customers more successful through expanded access to innovative ingredients, formulations and applications knowledge,” commented Eric Schnur, president of Lubrizol Advanced Materials. “This is another example of how the company continues to invest in our personal and home care business, increasing our product innovation capabilities, our global infrastructure and our talent base.” While the Nalco personal care business has achieved consistent growth in sales and earnings over the past eight years, the company decided to exit the personal care and household care business in order to focus on its core industrial water, energy and air applications business. “Our personal care business is more product oriented than service oriented and not a strategic fit with our emphasis on providing sustainability services for industrial water, energy and air applications,” said Nalco chairman and chief executive officer, J. Erik Fyrwald. “Lubrizol is a well-respected industry leader with a strong commitment to the personal care industry, which is more of an advantage for that business. This sale allows Nalco to more closely concentrate on the core of our business.” With this acquisition, Lubrizol will be assuming approximately 15 full-time employees, and it is expected that all Nalco personal care products will be transitioned to Lubrizol over the next six months. The Nalco personal care brand names will be retained and unified under the Noveon Consumer Specialties product line.