Volume 2 Issue 28
Adrian Brown is away. His column will reappear in the July 17 edition of Lube Report Americas.
Its not an industry secret that the discrepancy between base oil production capacity and finished lubricants demand is growing, and that the current overhang is impacting the market as the bubble waits to burst. Insiders say rationalization within the industry is inevitable.
A proposed new engine oil specification development process would disconnect engine test development from the specification development itself, with the goal of reducing delays related to new test development and to better prepare for future needs. The Lubricants Specification Development Review Group will seek approval from stakeholders by the end of this year.
Evonik announced on Monday it is expanding its production capacity for polyalkylmethacrylate-based viscosity modifiers by 15 percent to meet rising demand. The oil additives provider has a global production footprint, including three plants in North America.
WD-40 posted net income of $18.1 million for the quarter ending May 31, up more than 12 percent from a year earlier, with net sales up 6.5 percent at $114 million.