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Societe Generale Invests $498,000 in Chemtura Corp. (CHMT)
Societe Generale acquired a new position in Chemtura Corp. (NYSE:CHMT) during the second quarter, Holdings Channel reports. The firm acquired 18,889 shares of the company’s stock, valued at approximately $498,000.
India’s diversified, state-run enterprise Balmer Lawrie & Co. Ltd. reported that operating profit from its greases and lubricants segment rose 12 percent year on year in its first quarter.
Balmer Lawrie, one of India’s largest grease suppliers, said that the segment posted a standalone profit of just under Rs 10.7 crore (Rs 107 million or U.S. $1.6 million) before tax and finance cost during the quarter ended June 30, up from Rs 9.5 crore in the same period last year.
Southeast Asia should see healthy demand growth for both industrial and automotive lubricants in coming years, according to a recent report by Ipsos Business Consulting. The industrial market is less competitive, but product distribution is key for all parts of the market, the firm concluded.
“Capturing the right opportunities within the industrial lubricant segment would probably provide higher profitability relative to the already saturated and competitive automotive lubricant segment,” Wijaya Ng, global industrial sector lead at Ipsos told Lube Report Asia in an interview. “The diversity of the manufacturing industries and their varied development trajectories in individual Asean countries make up an exciting and constantly evolving market with potentially lucrative niche opportunities.” Asean, the Association of Southeast Asian Nations, is an economic bloc of 10 countries from Southeast Asia.
ANGSVAGEN, Sweden—Polyurethane cast parts and rollers manufacturer Elastolan has replaced the curative MOCA with Chemtura’s Adiprene well before its REACH deadline in 2017.
Under the EU’s REACH chemical safety regulations, the use of MOCA will be prohibited within EU companies beyond November 2017.
Elastolan owner and CEO Ronnie Smahl said he had decided to quit MOCA, independent of any regulations, adding “we had to get permission every third year from the government to be able to handle it.”
KenolKobil and British industrial and automotive lubricants manufacturer Castrol have partnered to construct a $15 million (Sh1.5 billion) lubricants factory in Mombasa.
Fuchs Petrolub plans to build a new grease plant in Johannesburg, South Africa, that will serve as the company’s hub for grease manufacturing for the rest of Africa, a company official said.
“Fuchs has identified South Africa as a hub for the manufacture of grease from which it will be distributed throughout Africa and is investing in the building of a new state of the art grease plant in South Africa,” Paul Deppe, managing director of Fuchs Lubricants South Africa, said in an interview. “The plant will have a capacity in excess of 4,000 tons per annum and although designed to manufacture lithium, lithium complex and aluminum complex greases, it will have the flexibility to manufacture other types of grease if required.”
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Brazilian conglomerate Ultrapar announced its Ipiranga subsidiary will enter a joint venture agreement with Chevron Brasil Lubrificantes as a way for both companies to further expand their reach in the Brazilian lubes market.
The companies will produce and distribute lubricants, greases, additives and coolants as part of the venture.
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Barge traffic restrictions on the upper reaches of the Ohio River were lifted Monday, to the relief of lubricant blenders who depend upon the river for transport of base oil supplies.
Traffic of wet goods, including base oils and chemicals, was restricted for a week following a Jan. 9 accident in which rain-swollen currents sank a tug boat and six barges approximately 30 miles downriver from Pittsburgh. Three people died in the incident, during which the tug and three of the barges washed through a dam.
Expanded lube-oil blending plant: Hi-Tech Lubricants starts commercial production
KARACHI: Hi-Tech Lubricants has started commercial production from its expanded lube-oil blending plant established at a cost of Rs1.91 billion in Lahore, according to a bourse filing on Wednesday.
Chinese Petrochemical Company Licenses Technology From Honeywell UOP And ExxonMobil To Produce Premium Fuels And High-Quality Base Oils
DES PLAINES, Ill. and HOUSTON, Aug. 3, 2016 /PRNewswire/ -- Honeywell UOP and ExxonMobil announced a technology licensing agreement with Hainan Handi Sunshine Petrochemical Co., Ltd., marking the first project in China under a joint marketing alliance for premium fuels and lubes between the two technology providers.
The integrated UOP and ExxonMobil technology platform enables Handi Sunshine to meet growing demand in China for cleaner-burning jet fuel and diesel along with high-quality Group II/III base oils, which are typically used in premium, high performance motor oils and industrial lubricants. Honeywell UOP's Unicracking™ technology and ExxonMobil's MSDW™ catalytic lubes de-waxing technology will be installed at the Hainan, China facility.