Chemtura to Unload Dutch JV
Chemtura is seeking bankruptcy court approval to expedite sale of its share in a Dutch joint venture for $5 million to Sonneborn. If the sale goes through, Sonneborn would withdraw $14.2 million in claims against Chemtura.
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Infineum Builds New Detergent Plant
Infineum Singapore has begun preparations for a new salicylate manufacturing plant at its Jurong Island, Singapore, site, with startup expected in 2013.
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API to Retire GL-4 Spec
On July 1 the American Petroleum Institute polled its Lubricants Group on declaring the GL-4 gear oil category a “service designation not in current use.”
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Colas Enters Base Oil Business
Colas Group announced Friday that it has closed on its acquisition of Societe de la Raffinerie de Dunkerque, a French bitumen and base oil plant with capacity to make 6,600 barrels per day of base stocks.
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Group II Is the New Group I
Lubricant markets are recovering, but the post recession world will be very different, Kline predicts. API Group II will be the new Group I, and a few large players will dominate in Group III.
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Thompson Acquires Express Oil
Thompson Street Capital Partners acquired Express Oil Change, a chain of 172 U.S. quick lubes, from Carousel Capital for an undisclosed amount.
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Heartland Moves to Dallas
Heartland Automotive Services, the largest U.S. Jiffy Lube franchisee, will relocate its corporate office from Omaha, Neb., to Dallas before the end of this year.
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Briefly Noted
Lubrizol of
Wickliffe, Ohio,said it will
repurchase up to 7.2 million (10 percent) of its outstanding common shares… Enoc Lubricants signed a lubricant
supply agreement with Galana Oil Kenya to
distribute its products in Kenya… Belinda Foxworth joined Greenwich,
Conn.-based lubricants distributor Maxum
Petroleum as senior vice president and general counsel.
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U.S. Base Oil Price Report
With summer vacations in full force and U.S. Independence Day celebrated earlier this week, base oil activity is livelier than expected. Business usually subsides in the early days of the third quarter, but suppliers say demand is strong with no signs of slowing.
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Europe-MidEast-Africa Base Oil Price Report
A shortage of most grades of API Group I material has prevented much business being transacted during the first few days of this new month. Most producers in Europe and North Africa are running on tight inventories and cannot make offers for new business.
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SSY Base Oil Shipping Report
Demand for space remained slight out of the U.S. Gulf, probably due to the long holiday weekend. European volumes are thin. Deep-sea business failed to ignite, consigning many ships to another week of watching and waiting. Asia remains steady.
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Editor's Note: LNGSourcebook Is Here
LNG’s completely updated 2010-2011 Lubricants Industry Sourcebook is now posted online. See www.LNGSourcebook.com for new customers, suppliers, brands, contacts.
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