The Lubrizol Corporation

The

Lubrizol guy.

The Lubrizol guy, exactly.

Those three entities owned 70% of Atlas Corp.

And just before those ships that they'd contracted to be built started coming out of dry dock and being married up with their daily charters for 15 years, they took it private.

... or, or a compound from, uh-

...

the next town.

Yeah, from Lubrizol.

Disputed Lubrizol.

They said, "Okay, we are going to buy the resin from someone and make the compound ourselves." Now they are saying, "Forget that.

We are going to go back and make the resins also."

He had his time in Cleveland, we know he was in Cincinnati and Philadelphia for a bit, and then he ended his life in Eastlake, Ohio, which is actually where he stayed for quite a decent period of time.

He'd lived in his small studio apartment there since 1986, and he'd worked at a chemical company nearby called Lubrizol for a long time before he was laid off in 1997, which is five years before his death.

And I couldn't find any information about whether he got another job in those five years, or if he just kind of partially retired, or fully retired.

When we're talking about Joseph in life, pretty much all we've got to go on is what his colleagues said about him.

You know, I can't change anybody on the other side, but I can affect what I do personally.

And so being able to interact and grow From that side, it's really helped me because when I left Lubrizol, I was being pursued to run a company.

So I left Lubrizol.

I was able to run a company there.

you know, work with private equity, you know, investors directly, you know, you, when I worked at, you know, I say Lubrizol, BF Goodrich was eventually absorbed into Lubrizol, which Lubrizol is actually owned by Berkshire Hathaway.

So when you look at Berkshire Hathaway, you can call that private equity, I guess, but.

It's different when you're in a big corporation.

Lubrizol is a $7 billion company, $8 billion company.

Very catchy.

In 2012, this group consisted of Burlington, northern Santa Fe, which is the BNSF Railroad, Iscar, Lubrizol, Marmon and MidAmerican Energy.

And what is truly remarkable is that despite a tepid economic recovery in the U.S. and a visibly weakening global economy at the time, these five companies delivered aggregate pre-tax earnings of ten point one billion dollars.

Wow.

The event runs from the 16th to the 18th of September.

The company will showcase hot melt and solvent-based materials developed with Lubrizol alongside bio-based polymers, water-based adhesives, additives and modifiers.

Its conference presentation will examine how adhesive systems can reduce energy use and environmental impact while maintaining performance.

In extrusion, Balsano is explaining why HDPE and PP should not be mixed without careful formulation.

These are the largest non-insurance businesses.

BNSF, Iscar, Lubrizol, Marmon, and MidAmerican.

In 2011, those five companies alone generated a record $9 billion in pre-tax earnings.

And to really put that $9 billion into perspective, you have to look backward.

it? You go buy more engines.

Exactly.

Which brings us to the major acquisitions of 2011, starting with the absolute crown jewel, the Lubrizol Corporation, which they acquired for eight point seven billion dollars.

Lubrizol is just a master class in identifying a deep economic moat.