Volume 9 Issue 46

Hinduja Conglomerate May Be Divided

The Hinduja family is reportedly nearing resolution to a long-running feud and could divide a business empire that includes Gulf Oil Lubricants India Ltd. The family has not, however, disclosed details of how its businesses might be divided, let alone how a break-up would affect the lubes company, which is one of the 10 largest in India.

Profits Drop at Yushiro, KH Neochem

Price hikes were insufficient to make up for sharp increases in raw material prices and distribution costs in the quarter ending Sept. 30, Japan’s Yushiro Chemical reported, resulting in a nearly 50% drop in profits. At KH Neochem’s performance materials segment, production problems and soaring raw material and fuel prices caused a 13% decline in profits.

Cepsa JV Mulls Palm Chemicals Expansion

The Sinarmas Cepsa Pte joint venture will expand production of biobased chemicals at its fatty alcohol plant in Indonesia, under an agreement announced last week. The company’s vegetable-derived products used in lubricants include fatty alcohols, oleic acid and stearic acid.

From Other Editions of Lube Report

U.S. Base Oil Exports, Imports Fall

Greif Acquires Lee Container

BRB Opens Additives Factory

Briefly Noted

Light vehicle sales in China reached 2.6 million units in September, 26% higher than in the same month last year, LMC Automotive reported. Year-to-date light vehicle sales in the country were up 8% through September, at 19.3 million.