ANAHEIM, Calif.—Lubrizol Corp.'s LifeScience Division will invest more than $15 million to expand its Vesta Inc. subsidiary.
The firm said part of the investment will include expansions to Vesta's facilities. The unit operates two plants dedicated to thermoplastic elastomers and one for silicone in the U.S., while the LifeScience Division operates three others in the region.
Part of the investment expands Vesta's thermoplastic capabilities to include tip forming, tube flaring, pad printing, hole punching/drilling, precision cutting, reflow, braided tubing lamination and more, Lubrizol said.
Uwe Winzen—global business manager, medical devices—discussed the firm's recent investment in Vesta at the recent Medical Design & Manufacturing show in Anaheim. He said the investment was made because of feedback from the market.
“With Vesta we can make the final device, so we're a one-stop solution for these kinds of customers that are interested in the entire value chain,” Winzen said. “There are synergies. There's a strong drive in the market that you see in supply chain consolidation. We have a one-stop shop because we're backward integrated.”
Acquired by Lubrizol in August 2014, Vesta is a contract manufacturer for the global medical device industry. Its addition expanded Lubrizol LifeSciences product portfolio, and it now offers disposable and implantable silicone medical components and assemblies across a wide product portfolio, as well as precision thermoplastic extruded tubing.
Winzen said Lubrizol acquired Vesta because of its strong presence on the silicone side, its ability to provide a variety of capabilities and it brings Lubrizol into a new area of medical devices. Part of Vesta's operations include TPE extruding, bringing tubing capability to Lubrizol.
Lubrizol is one of the market leaders in thermoplastic urethane manufacturing.
“We want to go further down the value chain and be that one-stop shop,” Winzen said. “Even all of these capabilities are not going to be all encompassing, but this investment gets us in the right direction. These are the initial targets that we have identified that are creating a lot of value and our customers are asking for. But it doesn't mean we're done; we will continue to make investments. Lubrizol is dedicated in this market space, and we will continue to invest in it.”