Lubricant manufacturer P.S.P. Specialties Public Co. has obtained approval for its application for an initial public stock offering that aims to raise 350 million baht. The company will use some of the funds to upgrade its finished lubricant blending plant and to repay loans, it said in filings on the Stock Exchange of Thailand. The remainder is earmarked to be used as working capital.

Yushiro Chemical reported that its net profit more than tripled for the fiscal year ended March 31, boosted by strong performance in Japan and the Americas, while KH Neochem posted lower operating profit for its performance materials segment in the first quarter, citing the impacts of cold weather and natural gas costs.

China start-up Honghai Lubricating Oil Technology Co. announced recently that it received a ¥10 million infusion from an investment fund and that it will use the money to expand its product offerings and to upgrade its factory. The lubricant manufacturer and marketer, which is located in the Eastern China port city of Tianjin, said in an April 8 news release that it received the funds from Vision Capital, an investment firm based in Beijing.