Volume 10 Issue 21

PSP Receives Nod for Stock Offering

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.

Earnings Jump for Yushiro, Fall for Neochem

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.

Start-up Honghai Receives Cash Infusion

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.

From Other Editions of Lube Report

Lube Formulation, Tribology Draw Young People

Taif’s PAO Plant Upgrade Completed

Slicker Acquires Waste Oil Collector Oil Monster

Briefly Noted

Sales of four-wheel automobiles in Southeast Asia declined 20% to 220,830 in April, compared to 275,531 in the same month last year, according to Asean Automobile Federation data.