Volume 4 Issue 41
ExxonMobil Synthetics today announced plans to expand the production capacity of its metallocene high viscosity polyalphaolefin plant in Baytown, Texas, by 20% in response to customer needs. The cost and projected completion date of the project were not disclosed.
Valvoline is further restructuring its business model, announcing this week it will separate its two business segments, Retail Services and Global Products, at some point in the future. The company shifted to a more service-driven strategy earlier this year, consolidating three segments into two, in an effort to accelerate growth.
Vertex Energy shareholders voted in favor of its proposed sale of used motor oil collection and recycling assets – including two rerefineries – to Clean Harbors’ Safety-Kleen Systems subsidiary, but the U.S. Federal Trade Commission earlier made a second request for additional information about the deal, Vertex recently announced.