Warren Buffet's Lubrizol set up its first unit in Gujarat, may plan for 2nd unit.

The Lubrizol Corporation, a company owned by Warren Buffet's Berkshire Hathaway, has discontinued its earlier joint venture with Ahmedabad-based Astral Poly Technik Ltd. and went solo in setting up $50 million compound manufacturing unit in Gujarat.

'The unit would come up at Dahej with a $50 million investment' said Eric R Schnur, president of Lubrizol Advanced Materials. The company is setting up Chlorinated Polyvinyl Chloride (CPVC) compounding plant in Dahej Gujarat, India, with a 55000 metric tons annual capacity.

The Lubrizol Corporation has two divisions - additives & advance material. Incorporated in 1928, the Lubrizol started with graphite lubricant for automobile and later moved into advance materials segment; later in 2011 Berkshire Hathaway acquired the company. Recently it has global revenue of $6.1 billion.


ET