Expands company's application capabilities offered to life science market
CLEVELAND, August 1, 2014 -The Lubrizol Corporation announces that it has
acquired Vesta, a leading contract manufacturer for the global medical device
industry. This acquisition broadens Lubrizol's life science manufacturing
capabilities, applications and material portfolio with access to silicone and a
variety of other thermoplastics utilized in medical devices.
Headquartered in Franklin, WI, Vesta has three manufacturing locations in the
U.S. and offers disposable silicone medical components, providing silicone
molding, extrusion, sheeting, dip-casting and assembly services. As a full
service provider to medical device original equipment manufacturers, Vesta also
supplies precision thermoplastic extruded tubing, assemblies and secondary
operations to its medical device customers. Vesta has a long history of medical
design engineering experience with clinical device applications in cardiology,
urology, wound care and bariatrics.
"The addition of Vesta significantly enhances our life science offerings through
the combination of strong polymer technology, applications know-how and world
class component manufacturing," stated Deb Langer, general manager, Lubrizol
LifeSciences. "As medical device companies look for total solution providers,
the expertise and capabilities of Vesta give us the ability to provide a more
valuable offering to these customers on a global basis."
Previously owned by RoundTable Healthcare Partners, an operating-oriented
private equity firm focused exclusively on the healthcare industry, Vesta will
now be part of Lubrizol Advanced Materials. Financial terms of the transaction
were not disclosed.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is an innovative
specialty chemical company that produces and supplies technologies to customers
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 and performance coatings in the form of specialty resins and
additives. 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 17 countries, as well as sales and technical offices
around the world. Founded in 1928, Lubrizol has approximately 7,500 employees
worldwide. Revenues for 2013 were $6.4 billion. For more information, visit
Julie S. Young
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Source: Lubrizol via GlobeNewswire