Volume 2 Issue 44
A faint yet discernible increase in activity has been seen in both the United States and Asian markets. Some European routes are also in a healthier state, but there are some routes that have stagnated.-by Adrian Brown
Malaysias Petronas Lubricants International recently closed its lubricant blending plant near Buenos Aires, Argentina, and canceled plans to build a larger plant, opting instead to contract with toll-blenders because of the country's ongoing economic crisis.
Axel Christiernsson AB announced on Monday a multi-million dollar expansion and improvement plan across its three grease plants in the United States, including increased capacity to produce calcium sulfonate complex. The company manufactures and supplies lubricating greases in the U.S. through its Axel Americas and Axel Royal companies.
Shell was the largest North American lubricants supplier in 2018, beating out ExxonMobil and Chevron, according to consultancy Kline & Co., which also predicts North American finished lube sales will stay flat in the near future.
Afton Chemical, NewMarket Corp.'s petroleum additives segment, reported an operating profit of $94.8 million for the quarter ending Sept. 30, up 24 percent from $75.8 million in 2018's third quarter.