April 10, 2018
Volume 1 Issue 15
Transformer oil rerefiner Hydrodec Group Plcs CEO Chris Ellis resigned effective April 4 due to an illness in the family. Lord Moynihan, the companys chairman, will act as interim CEO while the board seeks a permanent replacement. Israel Chemicals Ltd. sold its fire safety and oil additives businesses to SK Capital, a New York City-based private investment firm, for U.S. $1 billion late last month. The businesses will be headquartered in St. Louis, Missouri, and be renamed Perimeter Solutions. Dubai-based Al Naboodah Group Enterprises entered into a partnership with Gulf Oil Middle East, allowing it to sell Gulf Oils automotive and industrial lubes in the U.A.E. Monument Chemical, a Heritage Group and Grube family joint venture, is now the exclusive distributor for Calumet Specialty Products Partners Penreco branded product lines of white oils and petrolatums in the European Union.
The forecasted earnings growth reported in the April 3 article, Shell Projects Strong Lube Earnings, is for the companys global commercial business - most, but not all of which is accounted for by lubricants. All of Shells lubricants sales are under that business, along with its aviation business, bitumen and other specialty products.