Volume 9 Issue 22
Lube Production Jumps in Japan
June 3, 2022Japan’s lubricants production and domestic lubricant demand both surged by almost 50% in April, compared to the same month last year, according to data released May 31 by the Ministry of Industry, Trade and Economy. Those numbers tracked economic recovery in Japan and overseas markets.
Apar Rides Economy to Better Profits
June 3, 2022Indian transformer oil supplier Apar Industries reported large increases in net profit and in revenues from its transformer and specialty oils business for the quarter ending March 31 and the fiscal year ending that month – possibly reflecting the country’s economic recovery from COVID-19, including the start of a rebound in its electricity demand. Tide Water Oil, GP Petroleums and Savita Oil Technologies reported mixed results for the quarter and fiscal year.
Azelis Acquires India Distributors
June 3, 2022Specialty chemicals distributor and service provider Azelis reached agreements to buy two related distributors in India – Chemo India and Unipharm Laboratories – both of which provide ingredients for lubricants and metalworking fluids along with other applications. Azelis, which is headquartered in Belgium, said the acquisitions will help it expand in India and the broader Asia-Pacific region.
From Other Editions of Lube Report
June 3, 2022Petrobras Agrees to Sell Lubnor Refinery
Briefly Noted
June 3, 2022Sales of motorcycles and scooters in four Southeast Asia countries – Malaysia, the Philippines, Singapore and Thailand – increased 9% to 300,603 in April, compared to the same month last year, according to Asean Automotive Federation data. Sales jumped 47% to 120,655 in the Philippines, but declined by 9% in Thailand to 121,845, by 2% in Malaysia to 57,084 and by 5% in Singapore to 1,019.