Volume 7 Issue 27
Kangtai Builds Additive Factory
July 3, 2020Chinese additives maker Kangtai Lubricant Additives Co. started construction in June on a 50,000 metric tons per year additive manufacturing plant in Jinzhou city, Liaoning province, where the company is based.
Grease Output Up in China, Down in India
July 3, 2020Reported lubricating grease production was up in China and Southeast Asia, and down in India and Japan, according to a survey by the United States-based National Lubricating Grease Institute.
Mixed Results for Indian Companies
July 3, 2020Apar Industries reported a steep drop in net profit for the quarter ending March 31, while Maximus International and Continental Petroleums posted higher net profits for the quarter, compared to year-earlier results.
From Other Editions of Lube Report
July 3, 2020Grim Outlook Given for Industry
Briefly Noted
July 3, 2020Indian Oil Corp. plans to build a technology development center that will house four centers of excellence, focusing on alternative and renewable energy, nanotechnology, synthetic biology and corrosion research. The new campus, on a 60-acre plot at a cost of Rs 2,200 crore (22 billion Indian rupees or U.S. $294 million), will extend the company’s R&D Center that was set up in Faridabad, India, in 1972 to establish capabilities in production of lubricating oils. Chevron Australia Downstream Pty Ltd. completed the AU$425 million (U.S. $294 million) acquisition of Puma Energy (Australia) Holdings Pty Ltd., a fuel and lubricants distributor and service station chain.