Tide Water Retains Control under Standard Greases
Grease Market News General, Partnerships
Standard Greases & Specialties Ltd. had intended to gain control of the Andrew Yule Group-managed Tide Water Oil Ltd. upon becoming its largest shareholder last year, but to date it has cooperated with existing management to focus on the growth of the company.
Evonik Buys Stake in Nanotech Company
stock market, Grease Market News General, Partnerships
Evonik announced today that it acquired a minority stake in Nanotech Industrial Solutions, placing a bet that nanotechnology will become an important tool in the lubricant additive toolbox.
The companies did not disclose the amount of Evonik Industries’ investment or the size of its share in NIS, but Evonik officials said they believe NIS’s technology can help Evonik provide additives that will be valuable to lubricant marketers.
Total Makes Grease in Asia
Grease Market News General, Partnerships
French oil giant Total Lubricants opened a grease production plant in Tianjin, China, its first in the Asia-Pacific region and eighth grease production unit worldwide.
Idemitsu Buys 31 Percent of Showa Shell
Grease Market News General, Partnerships
Idemitsu Kosan Co. completed the purchase of a portion of fellow Japanese refiner Showa Shell Sekiyu K.K. yesterday upon antitrust clearance. The ¥159 billion (approximately U.S. $1.4 billion) acquisition of shares grants Idemitsu 31.3 percent ownership of SSSKK, which is just shy of its original one-third target.
Chemtura's Petroleum Additives Business Expands Its Distribution Relationship With Canoil Canada Limited To Include Reolube® Phosphate Ester Base Stocks
Chemtura will be transitioning North American Reolube® customers to Canoil in the coming few weeks. Customers with questions during the transition should contact Chemtura Account Manager, Geoff McIsaac at Geoffery.McIsaac@chemtura.com or 519-574-6785.
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.
KenolKobil and British industrial and automotive lubricants manufacturer Castrol have partnered to construct a $15 million (Sh1.5 billion) lubricants factory in Mombasa.
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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.
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.
Leading Midwest Petroleum Distributors Join to Create Lube-Tech & Partners, LLC
ST. PAUL, Minn.--(BUSINESS WIRE)--Three of the Midwest’s largest petroleum distributors, Boyer Petroleum (Des Moines, IA), Moore Oil Company (Milwaukee, WI), and the Distribution arm of Lubrication Technologies Inc. (St. Paul, MN), announced today they have entered into a merger to form Lube-Tech & Partners, LLC. Under this merger, the new company’s 200 combined employees will provide over 20 million gallons of lubricants and chemicals, as well as a broad portfolio of products and services to over 7,000 customers throughout the Upper Midwest.