Volume 9 Issue 15
Fuchs Plans Lube Plant in Vietnam
April 15, 2022A year after forming a joint venture in Vietnam, Fuchs Petrolub SE has purchased land to build a finished lubricant factory in the country. The company, which is headquartered in Mannheim, Germany, told Lube Report yesterday that it bought a 20,000 square meter plot and plans to invest €8 million to build the plant. The facility will make lubes for the automotive aftermarket, mining and the broader industrial segments.
Earnings Jump for Richful, Lopal
April 15, 2022Chinese companies Jiangsu Lopal Tech Co. and Richful Lube Additive Co. each reported increases in profits for the fourth quarter of 2021 and for the full year. Richful posted a ¥65.4 million profit for the quarter, while net profit for Lopal ballooned to ¥157.9 million.
South Korea Base Oil Exports Slip
April 15, 2022South Korea’s base oil export volume for March was down 2% year to year, after being flat for two consecutive months, according to data released by the Korea Customs Service this week. The volume for March was still higher than January or February. The country exported 379,559 metric tons of base oil in March, down from the 389,052 tons in the same month last year.
From Other Editions of Lube Report
April 15, 2022Brazil Base Oil Output Fell in February
Briefly Noted
April 15, 2022Univar Solutions China Ltd., a subsidiary of distributor Univar Solutions, expanded its global relationship with Dow, announcing a lubricants and metalworking fluids agreement in mainland China and Hong Kong. Customers will have access to Dow Ucon polyalkylene glycol-based synthetic products under the agreement, which builds on the companies’ long-term relationship in North America, Latin America and Europe.