FOR IMMEDIATE RELEASEAugust 2005 |
Contact: Judy Makowski -or- Eileen Petridis |
NOVEON NEARS COMPLETION
OF CPVC COMPOUNDING EXPANSION
World Leader in CPVC Technology Expands Capacity
in Peachtree City, GA Facility
“The facility was built to improve service levels and increase our CPVC powder compounding capabilities in order to supply customers around the world with our CPVC and PEX compounds”, states Bill Daniels, Plant Manager. “While the world is forever changing one thing remains the same, customers want quality products delivered quickly. This expansion will enable us to continue our commitment to producing very high quality compounds in an efficient plant and to accelerate growth into new areas of the world.”
Simultaneously, the Louisville, KY manufacturing plant is completing an investment in a new, state-of-the-art control system to further increase CPVC resin and compounding capacity at the core facility. Further, additional resin capacity will be added to supply the new compounding assets.
“These expansions will aid in maintaining Noveon’s position in the CPVC industry”, states Andy Auvil, Senior Vice President and General Manager, TempRite® Products. “For those customers that require a flexible plumbing system, our PEX products offer pipe extruders and customers a defense against UV or chlorine attack. We envision substantial growth in these products which complement the long, reliable history of our CPVC systems.”
Noveon CPVC compounds are sold to licensed manufacturers who produce pipe and fittings sold under the tradenames of FlowGuard Gold®, BlazeMaster® and Corzan®. FlowGuard Gold® pipe and fittings are used in potable water systems, BlazeMaster® pipe and fittings are used in fire sprinkler systems, and Corzan® pipe and fittings are used in industrial piping applications as well as water distribution systems in commercial applications. Noveon PEX compounds are used in the manufacturing of PEX pipe and sold under the TempRite® tradename.
Noveon holds a respected position in the global chlorinated polyvinyl (CPVC) industry. Noveon has established this position through development of new product technologies and applications, in addition to internally developed technology. For more information on Noveon please visit our Web site at www.noveon.com.
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In June 2004, Lubrizol acquired Noveon International, Inc. The Lubrizol Corporation
(NYSE: LZ) 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; performance coatings in the form of specialty resins and additives;
and additives for the food and beverage industry. 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 21 countries, as well as sales and technical offices
around the world. Founded in 1928, Lubrizol has more than 7,700 employees
worldwide. With Noveon, Lubrizol generated pro forma revenues of $3.7 billion
in 2004 and $3.2 billion in 2003. For more information, visit www.lubrizol.com.
TempRite®, FlowGuard Gold®, BlazeMaster® and Corzan® are registered
trademarks of The Lubrizol Corporation.
This press release contains forward-looking statements within the meaning
of the federal securities laws. As a general matter, forward-looking statements
relate to anticipated trends and expectations rather than historical matters.
Forward-looking statements are subject to uncertainties and factors relating
to the company’s operations and business environment that are difficult to
predict and may be beyond the control of the company. Such uncertainties and
factors may cause actual results to differ materially from those expressed
or implied by forward-looking statements. Uncertainties and risk factors that
could affect the future performance of the company and cause results to differ
from the forward-looking statements in this press release include, but are
not limited to, the increased leverage resulting from the financing of the
Noveon International, Inc. acquisition; the company’s ability to raise prices
in an environment of increasing raw material prices; the delay or inability
to fully integrate Noveon International and obtain anticipated synergies;
conditions affecting the company’s customers, suppliers and the industries
that it serves; competitors’ responses to the company’s products; changes
in accounting, tax or regulatory practices or requirements; and other factors
that are set forth in the company’s most recently filed reports with the Securities
and Exchange Commission. The forward-looking statements contained herein represent
the company’s judgment as of the date of this release and it cautions readers
not to place undue reliance on such statements. The company assumes no obligations
to update the statements contained in this release.