Volume 6 Issue 35

Moresco Acquires Michigan Supplier
August 30, 2023Japanese specialty lubricant manufacturer Moresco Corp. expanded its die casting lubricant market and production capabilities with the acquisition of Michigan-based Cross Technologies Group for an estimated $8.8 million. Cross currently supplies raw materials for Moresco.

Quimiguay Recycles Waste Oil in Argentina
August 30, 2023To help reduce potential for environmental contamination, an Argentinian waste management company launched a used lubricant collection and treatment program three years ago. Quimiguay now operates two rerefineries in the northern part of the country. Institutional Relations Manager Facunda Sassone discussed the program in a recent interview.

Terpel Posts Jump in Profits
August 30, 2023Colombian oil and gas company Terpel reported hefty increases in gross profit for its lubricants segment in Colombia and Peru, its two major geographical markets, attributing the improvements in part to price increases it instituted and improvements in the logistics situation for obtaining raw materials.
From Other Editions of Lube Report
August 30, 2023Rerefinery and Lube Factory Planned in Turkey
Briefly Noted
August 30, 2023Heritage-Crystal Clean, owner of North America’s second-largest rerefinery, announced the expiration of the 35-day “go-shop” period provided for in its agreement to be bought by private equity firm J.F. Lehman & Co. for $1.2 billion. During the “go-shop” period, Heritage-Crystal Clean and its financial advisor engaged with or actively solicited alternative acquisition proposals from 53 potentially interested parties, but no competing proposals were received. The transaction is expected to close in the fourth quarter, subject to customary closing conditions.