Alimentation Couche-Tard Inc. has put on hold plans for a revised proposal to acquire Caltex Australia, citing economic impacts and uncertainty brought about by the Covid-19 pandemic.
Fuchs Petrolub will relocate production of recently acquired Nulon-branded lubricants to its own facilities in the states of Victoria and New South Wales, the company announced this week.
The newly created Australian Lubricant Association plans to set up processes to verify labels and standardization of lube products sold in Australia, while also providing technical assistance to members and developing training programs.
Caltex Australia will rebrand its operations after Chevron notified the company that it cannot use the Caltex brand on its lubricants and grease products once an existing licensing agreement between the two companies ends.
Viva Energy, Shells exclusive lubricants distributor in Australia, has completed its purchase of the remaining 50 percent of Liberty Oils Australian wholesale fuel and lubricant distribution business.
Caltex Australia, one of Australias biggest lubricants and grease suppliers, rejected an unsolicited A$8.6 billion (U.S. $5.8 billion) takeover bid from Alimentation Couche-Tard last week, but left the door open for further offers from the Canadian convenience store operator.
Canadian convenience store operator Alimentation Couche-Tard has made a takeover offer for Caltex Australia, one of Australias biggest lubricant and grease suppliers, the latter announced this week.
Sinopec reported last week that its lubricant sales in Australia were up more than 30 percent through the first nine months of 2019, compared to the same period of 2018.
United Kingdom-based Hydrodec Group this week unveiled details of the sale of its Australian hydrotreater - to its biggest shareholder, who will have the plant dismantled and shipped to the U.K.
The Australian lubricant industry is in a sustained decline, as local producers face increasing competition from importers and tougher conditions in export markets, according to an annual market analysis by market research group IBISWorld.