Berkshire Hathaway's Lubrizol, Daelim Sign Technology Agreement

The Lubrizol Corporation and Daelim Industrial announce they have signed a technology license agreement granting Lubrizol the right to use Daelim technology for the manufacture of polyisobutylenes (PIBs). Daelim is a leading provider of high-quality petrochemical products and services and their technology has high value to Lubrizol, the largest manufacturer of conventional PIB (CPIB). The Daelim technology can produce a wide range of polyisobutylenes from CPIB to highly reactive PIB (HR-PIB). PIB is a key raw material in the manufacture of Lubrizol's proprietary dispersants. This agreement is consistent with Lubrizol continuing to renew its additives infrastructure as part of its previously announced 10-year phased investment plan. The plan is designed to upgrade and enhance the company's global capabilities. "Through this agreement Lubrizol will ensure its access to process technology that offers the company multiple benefits," states Dan Sheets, president of Lubrizol Additives. "It provides Lubrizol formulating flexibility to meet the evolving performance needs