Volume 5 Issue 28
Demand for electric vehicle fluids is likely to see double-digit growth through 2040, as the United States passes China and the European Union to become the leading market for battery electric commercial vehicles, according to market consultancy Kline & Co.
Cepsa Quimica closed on its acquisition of 27.88% of Deten Quimica from Brazil’s Petrobras, after obtaining authorization from a government agency. In addition to making raw materials for detergents, Deten produces heavy alkylates used in production of lubricants, greases and lubricant additives.
The July issue explores the ways in which 3D printing may pose a threat to the lubricants industry. It also outlines the new ACEA heavy-duty engine oil sequences and discusses the projected growth of the global natural gas engine oil market. Don't miss our new quarterly industry earnings series compiling and analyzing the earnings of publicly traded base oil, additive and finished lubricant companies from around the globe.
Southern Cross Group, which owns the Petrobras lubricants and fuels business in Chile, has put it on the sales block, according to local news reports. The business, Esmax, also distributes Chevron lubricants in Chile and is the nation’s third-largest fuels and lubes retailer. Diario Financiero reported last month that Southern Cross is seeking a price tag of U.S. $900 million.
WD-40 reported net income of $14.5 million for the quarter ending May 31, a 31% drop from the same period last year, while net sales for its maintenance products group decreased 9% year-on-year to $127.4 million.