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.