Shanghai, China, November 25, 2025 — The Lubrizol Corporation and Zhejiang Fulai New Material Co., Ltd. (hereinafter “Fulai New Material”) have signed a Memorandum of Understanding (MoU) to establish a strategic partnership dedicated to advancing innovative and sustainable coating materials. The collaboration will cover bio-based coatings, biodegradable coatings, specialty printing coatings, and high-barrier flexible packaging coatings.

Under the agreement, the two companies will form a joint working group to strengthen collaboration through regular information exchange and joint R&D initiatives. Together, they will develop and promote technologies such as next-generation biodegradable coating resins, functional coating resins, and high-performance inkjet resins. By combining Lubrizol's expertise in specialty chemicals with Fulai New Material's deep experience in coated composite manufacturing and market applications, the partnership will deliver recyclable, repulpable, and environmentally responsible material solutions that enhance product performance and customer competitiveness.

The collaboration will place particular emphasis on sustainable applications in food packaging - including paper cups and oil-resistant papers - as well as specialty functional coatings used in labeling. With Lubrizol's technical support in bio-based and biodegradable coatings, Fulai New Material will be able to manufacture a range of differentiated, high-performance, and environmentally friendly products that meet growing market demand for sustainable materials.

"We are very pleased to enter this strategic partnership with Lubrizol," said Mr. Li Yaobang, General Manager of Fulai New Material. "Fulai is committed to driving the industry's green transformation through material innovation. Lubrizol's strong expertise in sustainable coating technology will provide powerful support for developing high-performance, eco-friendly paper products. This partnership will enhance our R&D capabilities in barrier coatings, creating greater value for our global customers."

"We believe cross-industry collaboration is essential to achieving meaningful sustainability progress," said Justin Chen, Senior Business Director, Lubrizol Coatings Asia Pacific. "Fulai New Material is a recognized innovator in China's coated materials sector, and we share a strong alignment in our approach to sustainable and functional materials. By integrating Lubrizol's global technology resources with Fulai's local manufacturing and market strengths, we will accelerate the development of sustainable packaging, bringing truly innovative products to the industry."

Lubrizol y Fulai firman un memorando de entendimiento para desarrollar soluciones de recubrimiento innovadoras y sostenibles