CLEVELAND--(BUSINESS WIRE)--

The Lubrizol Corporation announces that it has completed the acquisition of Lipotec SA, a leader in the development, manufacturing and sale of personal care ingredients based on three core technologies: peptide-based active cosmetic ingredients, delivery systems and biotechnology products. This purchase includes Lipotecs cosmetic active ingredients business and its subsidiaries, Diverdrugs and Lipofoods. The transaction was announced on June 20, 2012.

The addition of Lipotec complements Lubrizols global personal care ingredients business, strengthening its offering of high-performance technology solutions to marketers of formulated skin care products. Furthermore, it illustrates Lubrizols commitment to provide a broad product portfolio, new technology and applications expertise that enhance its ability to make customers successful through expanded access to innovative ingredients.

With the close of this transaction, Lipotec is now part of Lubrizol Advanced Materials, with Lipotec, Diverdrugs and Lipofoods retaining their respective names. The previous owners will continue their activities in the pharmaceutical and cosmetic finished goods segments through BCN Peptides, GP Pharm and Prima-Derm which are not part of the transaction. Financial terms of the agreement 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. Lubrizols 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 7,000 employees worldwide. Revenues for 2011 were $6.1billion. For more information, visit http://www.lubrizol.com.

Originally posted here:
Lubrizol Completes Acquisition of Lipotec