Lubrizol to transfer or exit some performance coatings product lines

Tag : Styrene Acrylic Latex

SAN FRANCISCO (Thomson Financial) - Lubrizol Corp. said Tuesday it will transfer or exit some of its performancecoatings product lines and market applications where it does notsee :'significant opportunity to grow the business profitably.'
During the third quarter, Cleveland-based Lubrizol (nyse: LZ - news - people ) said it will begin moving certain acrylic emulsions from itsAvon Lake, Ohio, facility to plants in Pedricktown, N.J., andGastonia, N.C. Some products will not be transferred and will bediscontinued by the end of 2008.
The Avon Lake acrylic emulsion production unit will cease operationat the end of the transfer process.
The company will also cease production of styrene butadiene latexat its Gastonia plant.
Lubrizol expects the moves to result in additional restructuringand
impairment charges to those announced in the company's earningsrelease for
the first quarter.
Shares of Lubrizol fell 39 cents to $51.55.
Gabriel Madway
gm

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