Lubrizol to close Latexo plant
Wickliffe, Ohio-based Lubrizol Corp. announced that it will close its Latexo, Texas, plant, which was acquired as part of its 2014 purchase of Weatherford International’s Engineered Chemistry business, next year. With approximately 40 employees, the Latexo facility currently manufactures chemical treatments for oil and gas production and produced waters, as well as additives for drilling, work-over and stimulation operations.
The Latexo facility will continue to operate as it begins transferring production to other facilities within Lubrizol’s extensive manufacturing base.
The closure is part of Lubrizol’s efforts to streamline its manufacturing footprint, to support improved growth and profitability. By taking this action the company will be able to bring costs in line with market needs and more efficiently invest in its facilities to better support ongoing and future oilfield chemical needs.
Employees affected by the plant closure will be offered severance packages.