Volume 9 Issue 40
BASF and Hannong Chemicals have tentatively agreed to form a joint venture that would manufacture non-ionic surfactants in South Korea for metalworking fluids and other applications, the companies announced Thursday. The partnership requires approvals of multiple authorities, and the companies said they are working to obtain those and to form the joint venture early next year.
Japan’s finished lubricants consumption surged up by 79%, and production was up 31% in August, compared to the same month last year, according to data released Sept. 30 by the Japan Ministry of Economy, Trade and Industry. Consumption in August 2021 was historically low.
The October issue features a special report on additives. Discover how new policy in Europe may contribute to major disruptions for chemical manufacturers as well as how a new antioxidant may be able to boost lubricant performance. Plus, learn about how new developments in EV charging may speed up charging times, the benefits of double separation technology and more.
Pakistan-based blender Hi-Tech Lubricants Ltd.’s consolidated net profit for the quarter ended June 30 was down by more than 900%, while sales were up more than 100%. For its fiscal year, the company reported 10% higher profit, while sales climbed almost 70%. The company said sales were still hurt by economic turmoil and that the outlook in Pakistan appears challenging.