Volume 9 Issue 23

Raw Material Prices Impact Earnings

Raw material prices were a common theme in the earnings of Japan’s KH Neochem and Yushiro Chemical for the quarter ending March 31. The higher costs blunted profits even though business recovery brought increased sales, Yushiro Chemical said. KH Neochem – which posted a large increase in profits – noted that revising its product prices helped balance the impact from raw materials.

Cosmo Product Gains Biomass Mark

Cosmo Energy Holdings Co. announced recently that its Carboneut-brand 10W-30 diesel engine oil became the first engine oil accredited to bear the Biomass Mark of the Japan Organics Recycling Association. JORA’s program aims to promote sustainable business practices by giving a seal of approval to products made largely with plant material.

Lopal Ramps Up Battery Materials Strategy

Chinese lubricant marketer Lopal Technology Co. said recently that it is accelerating its previously stated strategy of growing a business to supply lithium derivatives for electric vehicle batteries. The company said its capacity to make the material will increase by 100,000 metric tons per year in 2022, after previous statements described a smaller increase coming online next year.

From Other Editions of Lube Report

U.S. Exports, Imports Up in First Quarter

Some Suppliers Exit Russia, Others Don’t

Chevron Phillips to Add New PAO Unit

Briefly Noted

Sales of four-wheel automobiles in Southeast Asia reached 274,284 in April, an 18% increase from the same month last year, according to Asean Automotive Federation data. Year-to-date through April, sales topped the 1.1 million mark, 16% ahead of the 968,052 pace for the same period last year.