Volume 4 Issue 15
A representative for a new automaker association unveiled its plan yesterday to create a framework to develop global specifications for engine oils and other fluids – a framework intended to replace the existing systems that develop API, ILSAC, ACEA and JASO oil specs. Officials with the International Fluids Consortium have only identified one member – Toyota – but claim that more than a dozen OEMs have applied for membership.
Brazil-based Moove has grown steadily in recent years, increasing sales in its homeland while also establishing a presence elsewhere in South America, the United States and Europe. In an interview last week, the CEO of the company– which manufactures and distributes lubes for ExxonMobil – discussed plans for further growth and a possible IPO.
Derivatives marketplace CME Group last week announced it would begin trading futures contracts for lithium hydroxide on May 3, pending regulatory reviews. The move could offer some welcome price stability to lubricating grease manufacturers, who watched costs rise for a key thickening ingredient due to competing demand from electric vehicles
WD-40 Co. posted net income of $17.2 million for the quarter ending Feb. 28, up 20 percent from the same period last year. Net sales also climbed by 12% to $111.9 million.