Wickliffe-based Lubrizol Corp. has acquired Bavaria Medizin Technologie GmbH in Germany.
Bavaria Medizin Technologie makes intravascular and nonvascular devices like drug-coated balloons, according to a news release. The company offers original equipment manufacturing services and private label manufacturing of proprietary catheters and balloons. It’s headquartered near Munich, Germany, and also has a manufacturing site in Sibiu, Romania. It has more than 100 employees.
Lubrizol has about 8,700 employees across the globe and had $6.8 billion in revenues in 2018.
The acquisition was made by Lubrizol’s German subsidiary Lubrizol Deutschland GmbH. It purchased Bavaria Medizin Technologie from majority shareholder Custos Vermögensverwaltungs GmbH and minority shareholders, the release stated. Terms of the acquisition are not being disclosed.
By Rachel Abbey McCafferty
Source: Crain’s Cleveland Business
Evonik is implementing a new segment structure and adopting a significantly leaner management model. The company’s business lines, previously grouped into four divisions, will now be led directly by members of the Executive Board.
In August 2024 Kemira announced changes to its operating model and leadership team to better meet its profitable growth ambitions. The design phase of the new operating model and organizational structure started in August and is now completed. The number of Kemira employees will remain approximately the same even if many roles and responsibilities will change.
Celanese Corporation, a global chemical and specialty materials company, announced that Scott Richardson, currently Celanese’s Chief Operating Officer, has been appointed Chief Executive Officer and will join the Company’s Board of Directors, effective January 1, 2025.
