[Biodiesel News] Lubrizol to sell UK plant

Lubrizol to sell UK plant

Crain's Cleveland Business - Cleveland,OH,USA

Lubrizol Corp. is selling a United Kingdom manufacturing site to a global biodiesel producer for about $5.7 million. UK-based D1 ...

 

Lubrizol Corp. is selling a United Kingdom manufacturing site to a global biodiesel producer for about $5.7 million.

 

UK-based D1 Oils plc has agreed to buy the Wickliffe-based specialty chemicals and lubricant additives company’s 47-acre Bromborough, England, manufacturing site and plans to convert it to biodiesel production next year, according to a Lubrizol statement.

 

In January 2005, Lubrizol announced it planned to phase out production of additives for fuels, additives for engine oil lubricants and specialty monomers at the Bromborough site by the end of 2006. At that time, the company estimated those restructuring costs, including employee severance and other plant closure costs, such as demolition costs, would be about $15 million.

 

In the statement, Lubrizol estimated the sale would save the company about $3 million to $5 million in restructuring costs that would have been associated with demolishing the plant.

 

The sale is expected to close by the end of the year. Production from the Bromborough site has been transferred to higher-capacity Lubrizol facilities in France and Texas, according to the statement.

 

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Posted by Vince to Biodiesel News at 9/20/2006 05:30:00 AM