BASF Bags Cognis
After months of rumors, it’s confirmed. BASF will buy Cognis for €3.1 billion (U.S. $3.8 billion), in a deal announced June 23 and expected to close by November 2010.
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Additive Maker Grows
R.T. Vanderbilt will invest $20 million to expand its Murray, Ky., chemical manufacturing operation, adding 16 new jobs. It also outlined plans for a new laboratory in China.
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JV to Build Veggie Oil Refinery
Elevance and Wilmar formed a joint venture to build a biochemical refinery in Indonesia. It is expected to come online in 2011 with 180,000 metric tons per year capacity, and ability to expand up to 360,000 t/y.
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Lube Fingered in Fatal Blast
A leak of industrial lubricant and air under high pressure in the compressor unit caused a May explosion in Nizhnekamsk hydroelectric power plant that killed two, the Russian prosecutor’s office has concluded.
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New Powertrains Bring Lube Challenges
Emerging fuel efficient powertrains such as turbocharged direct injection engines will increase the need for improvements in powertrain lubricants, Daniel Kapp, Ford’s director of powertrain research and advanced engineering, told STLE.
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Spotlight on Bangladesh
China and India may grab the headlines, but numerous smaller Asian countries report vibrant growth and fast-changing lubricant markets. In Bangladesh, lube demand and quality are rising, and one local blender is taking the lead.
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Brake Leak Prompts BMW Recall
Risk of brake failure from vibration causing brake lines to rupture and leak hydraulic fluid led BMW to recall 15,532 model year 2005 to 2009 motorcycles, starting in July.
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U.S. Base Oil Price Report
Although the U.S. base oil market remains fairly calm on the surface, the behind-the-scenes supply/demand situation is still complicated. No fresh price hikes issued this week, a welcome change for consumers who have seen a plethora of increases in recent months.
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Europe-MidEast-Africa Base Oil Price Report
This week has been a time of reckoning for buyers, who are realising that perhaps the base oil market is not going to capitulate and prices will not fall, even given that crude and some petroleum product prices have retreated from recent highs.
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SSY Base Oil Shipping Report
The U.S. Gulf market is beginning to tighten up, although freights are unchanged so far. Europe is completely over-tonnaged and demand for space is poor. Asia continues to buck the trend and remains the most active region globally.
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Publisher's Note: '10 Base Oil Guide Is Here
LNG’s completely updated 2010 Guide to Global Base Oil Refining, a colorful wall chart listing the world’s key mineral base oil plants, has been mailed to all subscribers to the print edition of Lubes’n’Greases magazine. Click here for information on ordering copies.
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