Volume 10 Issue 15
Slowdown Squeezes Metalworking Fluid SuppliersApril 14, 2023
Chinese metalworking fluid manufacturers must make big changes in how they run businesses to survive, as they are increasingly pressured by uncertainties in China’s economy, speakers said at a lube conference in Shanghai late last month. Industry insiders said small fluid suppliers are pressed to keep up with shifts to new manufacturing materials and the sustainability movement.
ExxonMobil to Expand Indonesia Blend PlantApril 14, 2023
As part of a strategy to grab a bigger share of Indonesia’s lubricant market, ExxonMobil plans to double the size of its local manufacturing plant, according to a news report last week. The American energy giant held a news conference April 6 where officials disclosed that the company has purchased land next to its blending plant in Cilegon, on the northeast tip of Indonesia’s Java island, reported the Indonesian automotive news site Otomotifnet.
Richful Additives Profit Nearly TriplesApril 14, 2023
China’s Richful Lube Additives reported that its lubricant additives operating income surged 188% in 2022, while its overall net profit spiked more than 180% for the fourth quarter, compared to the same period in 2021, according to financial statements released last week. The company said lubricant additive demand in China has grown steadily the past few years, and it is boosting production capacity to keep up.
From Other Editions of Lube ReportApril 14, 2023
Russia Auto Sales Tank Amidst Sanctions
U.S. Base Oil Exports Swell, Imports Fall
Briefly NotedApril 14, 2023
PT Pertamina Lubricants last month inaugurated two additional lubricant shelters at its Plumpang depot supply point in Jakarta, Indonesia, adding capacity for 5,000 lubricant drums, adding to its existing 18 shelters and 45,000-drums capacity. The addition will also upgrade the site’s lubricant warehouse facilities and infrastructure with a closed storage system and a more advanced product handling system.