A company attempting to acquire most of Kangtai Lubricant Additive Co. has scaled back the size of an additive factory now under construction in order to obtain a necessary environmental permit.

China’s Jiangsu Lopal Tech Co. and Richful Lube Additive Co. both reported drops in net profit for the third quarter, although year-to-date profits through three quarters were up for each company. Richful recorded a quarterly profit of ¥31.6 million, while Lopal’s was ¥46.7 million.

Japan’s finished lubricant demand tumbled in October, as consumption volume fell by 20% compared to the same month last year and by more than 30% sequentially from September. Lubricants imports were higher and exports lower for the month. The country’s lubricant consumption dropped to 107,057 kiloliters, or 96,000 metric tons, in October, falling from 133,229 kl In October 2020, the country’s Ministry of Economy, Trade and Industry reported on Nov. 30.