Volume 5 Issue 2

Survey: Supply Chain Problems Persist

Chemical manufacturers in the United States reported that supply chain disruptions are persisting and in some cases worsening, causing them to incur significant expenses in shipping delays and lost business, according to a survey conducted by the American Chemistry Council late last year. The trade group predicted that the problems will continue well into 2022 and called for federal government action to alleviate the situation.

Castor Oil Distributor Acquired

Biosynthetic Technologies, a producer of biobased synthetic compounds used in base oils, lubricants and additives, acquired castor oil and castor oil derivatives distributor Innoleo, the company announced last week. Terms were not disclosed.

Equity Firm Buys Lubes Distributor

Private equity firm OpenGate Capital has acquired Chemsolv Inc., a Virginia-based regional distributor of commodity and specialty chemicals, including lubricants, surfactants, additives and other products. Terms were not disclosed.

Mixed Results for WD-40

WD-40 Co. reported net income of $18.6 million for the quarter ending Nov. 30, a 21% decrease from $23.6 million in the same period in 2020. The company citied ongoing supply chain disruptions and a volatile operating environment as factors.

From Other Editions of Lube Report

OQ Predicts Need for Immersion Coolants

China Halts Lube Imports from Russia

Fuel Supplier NSH Delves into Lubes

Briefly Noted

King of Prussia, Pennsylvania-based distributor PetroChoice acquired Goodwater, Alabama-based APS Lubricants, which has distributed products to industrial, fleet and automotive customers in central and southeastern Alabama since 2007.  Calumet Specialty Products Partners L.P. provided a preliminary fourth quarter update yesterday, saying it ended last year with $333 million of liquidity, including $37 million of cash and cash equivalents and an undrawn revolving credit facility. It lowered its fourth quarter earnings estimate due to an ongoing additive shortage and downtime at a facility in Montana.