Volume 1 Issue 11
Europe enjoyed a reasonably active week, and the United States is not a bad place for a ship to be seeking employment either. Asian markets, however, are still not fully functioning after the lunar holidays. -by Adrian Brown
ExxonMobil, the worlds largest base oil supplier, has made capital investments at several plants the past few years. Apparently it plans more of the same in coming years.
Private equity firm Wynnchurch Capital acquired do-it-for-me oil change giant Heartland Automotive Services Inc. for $1.3 billion, the companies announced last week. The Chicago-based firm partnered with Jiffy Lube franchise Mid-Atlantic Lubes Inc. for the acquisition, but declined to comment on details of the partnership.
Fuchs Petrolub SE acquired Dallas, Texas-based wireless sensor technology company Fluid Vision Technologies LLC for less than 1 million (U.S. $1.2 million) so it could offer automated process fluid condition monitoring.
Calumet Specialty Product Partners L.P. reported a $64.9 million net loss for 2017s fourth quarter, smaller than the $79.6 million net loss in 2016s fourth quarter. For the full year the companys net loss shrank to $85.1 million, compared to a $328.6 million net loss for 2016.