The COVID-19 pandemic has caused serious damage to lubricants markets around the world, but the bigger problem could be the length of time it takes the industry to emerge from the crisis, according to speakers at a webinar hosted by Lubes’n’Greases.
The U.S. Air Force Civil Engineer Center’s Environmental Quality Technical Support Branch is leading a pilot study aimed at saving money and protecting the environment by changing its oil change procedures for engines used to power key systems on Air Force bases.
Canadian wax maker The International Group Inc. has acquired Picayune, Mississippi-based Rheogistics LLC, which supplies lubricants and mechanical stabilizers to the rigid polyvinyl chloride industry. The transaction was completed on June 12, according to a press release by investment bank and financial adviser Grace Matthews. Financial terms were not disclosed.
Covid-19’s impacts on lubricant markets varied due to the differences in how and when individual countries’ governments responded, while the drop in lubricant demand caused the spot market for base oils to evaporate, industry insiders said during a webinar last week.
The lubricants market faces a “very gradual” recovery, regardless of the ultimate size of the dip in the economy or the economic modeling scenario, consultants from IHS Markit said during a virtual town hall meeting organized by the Independent Lubricant Manufacturers Association last week.
Moove – Cosan’s lubricants production and distribution arm – reported lower net income, revenue and sales volumes for the first quarter ending March 31.
Altivia Oxide Chemicals LLC acquired KMCO and its associated chemical ethoxylation manufacturing assets in Crosby, Texas, last week out of Chapter 7 bankruptcy. Products the facility can make include lubricant additives and surfactants.
Trends related to electric vehicles accounted for half of the 10 most popular answers in a global survey of tribologists and lubrication engineers about developments likely to draw the industry’s interest in coming years.
Canada-based distributor Parkland Fuel Corp. posted a 26 percent increase in consolidated revenue for its lubricant segment for the quarter ending March 31, boosted by higher sales for its United States segment.
Lube-Tech opened a new distribution center this week in Milwaukee, Wisconsin, with capacity to store up to 350,000 gallons of lubricants and other fluids, the company announced on Monday.