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Lubrizol CEO: North American Economy as Strong as Any in the Globe

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    Lubrizol CEO: North American Economy as Strong as Any in the Globe

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-- Thank you very much.

A story upset disorganized here because it's projected recovering drop a Tug boats behind me.

And then of course there's Warren Buffett not here in Cleveland but ferret out my -- he's always looking to five really good businesses.

He looks for companies making best in class products that they -- a lot of money doing it about here and a half ago he set its sights on one Cleveland company.

And what -- so much you bought it out right but he kept the man who was in charge right where he's always been helping to grow at least would result we welcome James Hambrick.

Chairman president and CEO -- a Fox Business explicit thank you so much for being here it's a pleasure -- thank you so much.

I I gotta ask you -- up the company booked a bit like.

Where have you found after Warren -- wanted to -- -- all of it as a amateurism leaders he's -- -- somebody that just lets its people run their companies Greg.

Gratifying I mean really honored for me resolve my book for me but it's it's great company has been -- Patent half decades enough its Guatemala due to -- draw the attention.

-- that we should let people a little bit about you you grew up in Texas or Texas and add newer.

Ticket chemistry you joined -- -- in 1979.

When you were freshman in college so we never.

Nowhere in my have a forty almost forty years might -- 73 I was college -- chemical engineering student with work for the company.

Never worked anywhere else throughout my real honest to goodness this is -- great American story starting at the bottom and working your way out to chairman and CEO.

They were well you know let's talk about the business right -- specialty chemicals.

Got big competitors out there.

Globally not just here in the United States and -- business.

Businesses.

It's okay.

Business is spread about 13 North America about 13 you're from about 13 Asia -- down a bit.

America's gonna go inside late -- fan interest down.

To foresee that turning around anytime simply watch all kinds of metrics we've watched.

What about iron ore imports what about electricity generation out of out of China do you go to China upon -- the go to China a lot of spin.

The -- retreat here in China several weeks out of the year.

Turnaround.

In all honesty.

-- warm when -- talk to him we're going sideways I think we'll continue to go sideways humanely this year and only the next -- And that's out of China specifically let's let's let's global -- look closely what do you see any strong pockets.

What -- could say that that I -- in North America would actually be the strongest.

We're in South America for the -- -- why what is that where -- What demanded what part of your business.

Well it's an industrial chemicals business.

Mid tier supplier all kinds -- downstream industries.

North American economy is.

It is about is strong as any economy and -- -- in the globe right now as a mentioned Asia's weaker Europe obviously has its problems so.

On a relative basis its -- stronger -- on an absolute basis global economy's weak chains you know.

The chemical industry I have to tell you this but maybe -- viewers don't know is is a pretty heavily regulated one.

The so much talk about regulation obviously -- has been able to thrive and work through all of that.

Is it more typical route to a breaking point or -- -- always figure out as they say business spots away.

-- regulation.

It in moderation is always good I think it's it's healthy.

Taken to an extreme like anything else it can be burdensome.

For those that are capable of managing regulations of all sorts -- connection via competitive advantage for Lubrizol for example.

Things that drive.

Emissions reductions in engine's fuel economy improvements those are government regulations and actually drive growth and our business.

Lately that -- and how so because of course to get a lot of people complain about the EPA is onerous but here.

Is an opportunity where you say.

Not only can we work with that we could actually profit from that as you as you try to manage greater and greater.

Efficiencies.

Out of mechanical devices you need to change designs.

Operating conditions -- normally harsher.

And that's a great opportunity for a four surface chemistry companies like -- -- -- I I.

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