Lubrizol Completes Acquisition of Noveon
Noveon will become a wholly owned subsidiary of Lubrizol, and will be headed by Donald W. Bogus, who formerly led Lubrizol's Fluid Technologies for Industry (FTI) division and was named president of the Noveon business. Lubrizol said the purchase significantly expands its products and technologies for the coatings market.
Lubrizol said Cornelius Kees Verhaar will continue as Noveon's vice president, Performance Coatings. The company also announced a revised organizational structure consisting of two operating segments: Lubrizol Additives and Noveon.