Phillips Petroleum Co. announced that it has completed its purchase of Tosco Corp. after receiving regulatory clearance from the U.S. Federal Trade Commission.
Although the acquisition was driven by fuel refining and marketing interests, it also brings several well-known lubricants brands – Phillips, 76 and Kendall – under the same corporate umbrella.
A spokesman said Phillips has named Tom Liberti to head the combined lubricants businesses but added that the company has yet to decide how to integrate them. The lubricants business is part of Phillips 66, which is responsible for all refining, marketing and transportation activities. We are excited to have a business with such a strong line-up of brand names, Rich Johnson said. Our next step is to achieve a seamless transition that improves our manufacturing, service and transaction processing activities.
Phillips previously contracted out all of its lubricant blending but Tosco comes with blending plants in Los Angeles, Portland, Ore., Savannah, Ga., and Richmond, Va. The Richmond plant is currently vacant.
Phillips already had a lubricants business that featured the Trop-Artic brand and which has strong sales in motor oil, off-road industrial lubricants, aviation oils and two-cycle engine oils. Toscos 76 Lubricants is one of Americas largest marketers of diesel and off-road engine oils. Earlier this year, 76 acquired the Kendall motor oil business from Sun Oil