Although not a household name, Lubrizol products are used almost every day by Americans. Founded in 1928, this chemical company specializes in a variety of different chemicals used in automotive, medicine, manufacturing, and personal care.
Lubrizol is mostly known for its chemical additives in use in the automotive industry, especially in fuels and oil. However, the company does far more than that. It works with a variety of different vendors and industries around the globe. In 2016, the company had a revenue of around $6.5 billion.
Lubrizol is a global company whose products are sold in more than 100 countries around the world. It employs around 8,300 people, but is an American company which is headquartered in Wickliffe, Ohio.
Incorporated in 1928, the Graphite Oil Products Company originally created a graphited lubricant and applicator designed for early automotive engines. The company changed its name to Lubri-Graph Corporation a few years later and began to expand into other segments.
In 1931, the company moved to its current headquarters and in 1934 introduced a new product, the Lubri-Zol special motor lubricant. In response to the popularity of its newest product, the company changed is name again. The hyphen was dropped in the 1940s.
The company went public in the 1960s, listing itself on the New York Stock Exchange for the first time. It continued to innovate and create new products, expanding into China in the 1990s. In 2004, the company purchased Noveon International, Inc, and it drew the interest of Berkshire Hathaway in 2011. The purchase was completed in September 2011 for an undisclosed sum.
Since that time, Lubrizol has continued to expand and grow. It opened its first additives facility in Zuhai, Guandong, China in 2013 and added a third business segment, Lubrizol Oilfield Solutions, in 2014. The company underwent some minor restructuring in 2016 and has continued to be a leader in the chemical additives industry ever since.