Lubrizol inks agreement to purchase specialty TPU Merquinsa

The Lubrizol Corporation has signed an agreement to purchase Merquinsa, a leader in specialty thermoplastic polyurethanes (TPUs). This acquisition will expand Lubrizol's Engineered Polymers business and strengthen its ability to meet the needs of its global customers. Located in Barcelona, Spain, Merquinsa serves the most technically demanding segments of the specialty polymer market. Merquinsa products are used in a wide range of applications which serve a variety of industries, including automotive, sports and leisure, furniture and textile coatings. Key Merquinsa global brands include: o PEARLSTICK®PEARLTHANE® o PEARLTHANE® ECO o PEARLBOND® o PEARLCOAT® With more than 50 years of industry experience, Lubrizol is a global leader in thermoplastic elastomers, marketing products under the Estane® brand name. Estane Engineered Polymers are highly versatile thermoplastic elastomers that are utilized in film extrusion, tubing, cable jacketing, injection molding, calendaring and solution processes for applications such as textiles, wire and cable, hose and tube, optical, industrial, agriculture, medical devices and many others. "We are excited to be adding Merquinsa's capabilities and products to our Engineered Polymers business. Merquinsa's strong global brand recognition, along with its solid track record of profitable growth broadens our product portfolio, increases our global reach and strengthens our manufacturing capabilities," said Rocco Mango, Lubrizol vice president and general manager, Estane Engineered Polymers. "Overall, this acquisition allows us to continue to expand our offerings to our customers worldwide."Established in 1964, Merquinsa is a family-owned business. With this transaction, the owners have decided to focus on the non-chemical segments of their product portfolio. "I believe this acquisition will benefit our talented workforce, as well as our customers, with increased investment from Lubrizol in new and enhanced technologies, products and services," stated Jose Luis Ayuso, Merquinsa president. "I am sure our business and our customers will be in good hands." The move ensures that Merquinsa's existing customers will continue to be supplied with the company's products. Lubrizol will be assuming approximately 100 Merquinsa employees. Once the transaction closes all Merquinsa products will be integrated with Lubrizol, combining the product offerings under the Lubrizol Engineered Polymers business. Financial terms of the agreement were not disclosed. The transaction is expected to close by the end of 2011, subject to customary closing conditions.