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Lubrizol Posts Slower 4Q, Successful Full Year 2008

Published November 30, -0001
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The Lubrizol Corporation reported that consolidated revenues for the fourth quarter decreased 5% to $1.09 billion. However, for the full year, 2008 consolidated revenues increased 12% to a record $5.03 billion. Commenting on the results, chief executive officer James Hambrick stated, “Both of Lubrizol’s operating segments experienced significant and sudden declines in volume at year end due to the weak global economy and inventory reductions by some of our customers. Nevertheless, I am pleased with our accomplishments in 2008, particularly our ability to successfully manage through a period of unprecedented material cost volatility.”

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