Lubrizol To
Invest $ 15 mn In Lifesciences Business
With this, Lubrizol aims to
expand its global manufacturing facilities, positioning lifesciences business to
better serve the growing market for medical device contract manufacturing.
The Lubrizol Corporation, a
Berkshire Hathaway company, will invest $ 15 million in the lifesciences
business to expand its global manufacturing facilities, positioning lifesciences
to better serve the growing market for medical device contract manufacturing.
Since 2014, Lubrizol Life
Sciences has consolidated its presence in the life sciences market by
introducing new products and making strategic acquisitions. This capital
investment will expand multiple facilities and increase Lubrizol LifeSciences’
in-house engineering capacity for both silicone and thermoplastic products.
“We have significantly enhanced
our capabilities through the combination of strong polymer technology,
application know-how and world-class component manufacturing. As healthcare
companies look for total solution providers, we continue to invest in the right
areas to provide valuable offerings to our customers,” stated Deb Langer, vice
president and general manager, Lubrizol LifeSciences.
Vesta Inc, acquired by Lubrizol
in August of 2014, is a leading contract manufacturer for the global medical
device industry. With the addition of Vesta, Lubrizol LifeSciences now offers
disposable and implantable silicone medical components and assemblies across a
wide product portfolio, as well as precision thermoplastic extruded tubing. The
recent acquisition of Particle Sciences Inc, a leading contract drug development
and manufacturing organization, has positioned Lubrizol LifeSciences as
one of the most comprehensive drug delivery device solution providers, offering
end-to-end solutions in the healthcare market.
Robert Miller, global business
director, medical devices, Lubrizol, said, “With a long history of polymer
expertise and significant investment, Lubrizol LifeSciences is positioned to
offer full-service development for next generation medical and pharmaceutical
innovations.”
(Ref :
http://www.business-standard.com/content/b2b-pharma/lubrizol-to-invest-15-mn-in-lifesciences-business-115120900229_1.html
)
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