Volume 7 Issue 14
Modrica Loss Worsened in 2023
April 2, 2024Rafinerija Ulja Modrica, Bosnia and Herzegovina’s leading base oils and lubricants manufacturer, reported a loss of 2 million marka (U.S. $1.1 million) for 2023, 33% worse than its performance in 2022.
Investment Firm Ups Stake in Prista
April 2, 2024Bulgarian investment company Alpha Bulgaria Fund recently announced its intention to purchase up to 200,000 shares in Prista Oil Holding, the country’s largest lubricant producer.
Apar Forms Saudi Arabia Subsidiary
April 2, 2024The board of directors of Apar Industries Ltd. approved establishment of a wholly owned subsidiary in Saudi Arabia to produce lubricants for equipment and engines, according to a March 29 stock exchange filing.
From Other Editions of Lube Report
April 2, 2024Rerefining On the Rise in China
Briefly Noted
April 2, 2024Domestic sales of new vehicles in South Africa fell 12% to 44,237 in March, compared to the same month last year, according to data released by the National Association of Automobile Manufacturers of South Africa. The association attributed the decline mainly to a constrained business environment that was exacerbated by weak consumer demand.