As the demand for materials grows, Lubrizol Corp. will expand its engineering polymer thermoplastic polyurethane (TPU) business capacity and technology.
This multi-million dollar expansion will add new capacity to key facilities in North America, Europe and Asia.
According to Lubrizol, the company has invested nearly 80 million U.S. dollars for development projects.
Arnau Pano, Lubrizol's vice president and general manager of engineering materials, said: "Continual investment in engineering technology is part of Lubrizol's global growth strategy and strengthens our position in every region of the world."
Pano said that the company is witnessing "a strong market", the global economy is recovering, and the demand for high-performance, more sustainable materials is also growing.
In North America, the company is adding new capacity, expanding raw material inventory, storage space, and improving on-site logistics.
With the latest investment, new production capacity is expected to be put into use later this year.
In February this year, the company held a ribbon-cutting ceremony in Songjiang, China, and launched the latest compounding line and new extrusion line.
This is the fourth time since the first production of the TPU in the Songjiang Plant in early 2000, a major expansion has taken place. Further investment plans will be conducted in Asia in 2019.
According to Lubrizol, the company’s raw material needs have increased, including Estane, Pearlthane and Pearlbond under the TPU brand.