Volume 8 Issue 39

Rianlon Gets Nod for Kangtai Acquisition

Cosmetics chemical supplier Rianlon obtained an okay from the Shenzhen Stock Exchange this week for its proposed acquisition of a majority stake in Kangtai Lubricant Additive Co. The acquisition is the key piece of Rianlon’s goal to become a big player in the lube additives market, but a stock exchange committee said a Kangtai factory now under construction faces risk because it is still awaiting a provincial government approval.

Value of Korean Base Oils Stays High

South Korea exported a smaller volume of base oils but with a higher declared export value in August, compared to the same month last year, suggesting the impacts of higher base oil prices continue. The country exported 339,230 metric tons of base oil in August, an 11% decline from 380,950 tons in the same month last year.

Profits Rise for Lopal, Richful

China’s Jiangsu Lopal Tech Co. and Richful Lube Additive Co. reported increases in net profit for the first half of this year, compared to the same period in 2020.

From Other Editions of Lube Report

API Closes Provisional Licensing

Testing Wind Turbine Lubes in Canada

Kazakhstan to Make Group II, III

Briefly Noted

Sales of motorcycles and scooters in four Southeast Asia countries – Malaysia, the Philippines, Singapore and Thailand – declined 24% to 225,857 in July, compared to the same month last year, according to Asean Automotive Federation data. This ended a streak of four consecutive months in which sales topped year-earlier results percentages – peaking at 247% higher in April with 275,520 sales.