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Report No. : |
335625 |
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Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
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Name : |
THE LUBRIZOL CORPORATION |
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Registered Office : |
29400 Lakeland Blvd, Wickliffe, OH 44092 |
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Country : |
United States |
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Date of Incorporation : |
31.07.1928 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is a specialty chemical company, produces and supplies technologies
that improve the performance of its customer’s products in the
transportation, industrial, and consumer markets worldwide |
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No. of Employees : |
8,000 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $54,800. In 2014, however, US GDP ran second to China’s, when compared on a Purchasing Power Parity basis; the US lost the top spot, where it had stood for more than a century. In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology has been a driving factor in the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers, has put additional downward pressure on wages and upward pressure on the returns to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression.
To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and reduce them further as conditions warranted; the Fed ended the purchases during the summer of 2014. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
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Source
: CIA |
Company name: THE LUBRIZOL CORPORATION
Address: 29400 Lakeland Blvd,
Wickliffe, OH 44092 - USA
Telephone: +1
440-943-4200
Fax: +1 440-347-5337
Website: www.lubrizol.com
Corporate ID#: 132352
State: Ohio
Judicial form: Corporation – Profit
Date incorporated: 07-31-1928
Stock: -
Value: -
Name of manager: James
L. HAMBRICK
Business:
The Lubrizol Corporation a specialty chemical company, produces and
supplies technologies that improve the performance of its customer’s products
in the transportation, industrial, and consumer markets worldwide.
This segment also offers additives for driveline oils, including
automatic transmission fluids, gear oils, and tractor lubricants; and
industrial additives, such as additives for hydraulic, grease, and metalworking
fluids, as well as compressor lubricants. In addition, it provides additive
components and viscosity modifiers; and outsourcing services for supply chain
and knowledge center management. This segment primarily serves global and
regional oil companies, refineries, and lubricant producers and marketers.
Its Lubrizol Advanced Materials segment offers performance chemicals
used in specialty plastics and industrial applications; consumer goods, such as
ingredients for personal care and pharmaceutical products; and emulsions and
additives for coatings and inks.
It supplies engineered polymers products, such as Estane thermoplastic
polyurethane and TempRite engineered polymers used in the construction,
automotive, telecommunications, electronics, and recreation industries; Noveon
consumer specialties products, including acrylic thickeners, film formers,
fixatives, emollients, silicones, specialty surfactants, conditioning polymers,
methyl glucoside, lanolin derivatives, and cassia hydrocolloids used in
cosmetics, personal care, and household products; and performance coatings
products comprising polymers and additives for specialty paper, graphic arts,
paints, textiles, and coatings applications.
The company was founded in 1928 and is headquartered in Wickliffe, Ohio.
As of September 16, 2011, The Lubrizol Corporation was acquired by
BERKSHIRE HATHAWAY INC.
Office of the Foreign
Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
Foreign suppliers
include:
SINTERCAST AB
KUNGSGATAN 2 641 30 KATRINEHOLM SWEDEN
EIN: 34-0367600
Staff: 8,000
Operations & branches:
At the headquarters, we find
a factory, warehouse and office, owned.
The Company maintains
branches located:
9911
Brecksville Road
Cleveland,
Ohio 44141
2000
West Sam Houston Pkwy S., Suite 400
Houston,
TX 77042
Shareholders:
BERKSHIRE HATHAWAY IC.
3555 Farnam Street, Omaha, Nebraska 68131
The Company is listed with the NYSE under symbol BPRK.A
Management:
James L. HAMBRICK has been Chairman and Chief Executive Officer of The
Lubrizol Corp., since April 26, 2004 and January 3, 2005 respectively.
Mr. Hambrick has been President of The Lubrizol Corp. since January 10,
2003. His career has encompassed a variety of responsible positions in
operations, marketing, technology and business development. During the 1990's,
he led market development activities in the former Soviet Union and in China.
He joined Lubrizol as a co-operative education student in 1973 and was
hired full-time in 1978. From May 2000 to January 2003, Mr. Hambrick served as
Vice President of Lubrizol Corp. responsible for managing corporate strategies
in the Asia Pacific. From October 1998 to April 2000 he served as Global
Business Manager of engine oils at Lubrizol Corp. From January 1994 to
September 1998, he served as Business Development Manager for the Former Soviet
Union and China business regions at Lubrizol Corp. He served as Vice Chairman
of Hospice Of The Western Reserve, Inc. He serves as Honorary Director of
Hospice Of The Western Reserve, Inc. He has been a Director of Greater
Cleveland Partnership since April 2014. He served as Director of University
Hospitals Health System, Inc. He is a member of the American Institute of
Chemical Engineers.
Mr. Hambrick received a B.S. Degree in Chemical Engineering from Texas
A&M University in 1978.
Brian A. VALENTINE is Vice President and CFO.
Subsidiaries and
partnership:
Lubrizol
Advanced Materials Europe BVBA
Chaussee
de Wavre 1945
1160
Brussels – Belgium
Lubrizol
Advanced Materials Asia Pacific, Inc.
Shanghai
FTZ Trading Operation
10F
Park Center International
Pudong,
District, Shanghai 201204 - China
Lubrizol
India Private Limited
VIP
House, 2nd Floor
88-C,
Old Prabhadevi Road
Mumbai
400025 – India
Lubrizol Shanghai FTZ Trading Operation
10F
Park Center International
Pudong,
District, Shanghai 201204 - China
Lubrizol
Southeast Asia (Pte) Ltd.
44
Tanjong Penjuru
Singapore
609032
Lubrizol
Limited
P.
O. Box 88
Belper,
Derby, DE56 1QN - England
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2014 is in the range of USD 7 billion verse
USD 6.4 billion in 2013.
The business is profitable.
Banks: JPMorgan Chase Bank
Legal filings
& complaints:
State: Ohio
Case number: 1:10-cv-02871-SO
Plaintiff: Arrowood Indemnity Company
Defendant: Lubrizol Corporation
Solomon Oliver, Jr, presiding
Date filed: 12/20/2010
Date of last filing: 07/17/2015
Secured debts
summary (UCC):
File number: OH00094636190
Date filed: 10-24-2005
Lapse date: 10-24-2015
Secured Party: General Electric Capital Corporation
File number: OH00154106857
Date filed: 11-09-2011
Lapse date: 11-09-2016
Secured Party: Sterling Products, Inc.
File number: OH00171284369
Date filed: 11-22-2013
Lapse date: 10-22-2018
Secured Party: NMHG Financial Services, Inc.
File number: OH00135004818
Date filed: 05-28-2009
Lapse date: 05-28-2019
Secured Party: Air Liquide Industrial US LP
File number: OH00178404261
Date filed: 08-05-2014
Lapse date: 08-05-2019
Secured Party: Absolute Haitian Corporation
File number: OH0090235762
Date filed: 06-09-2005
Lapse date: 06-09-2010
Secured Party: NMHG Financial Services, Inc.