Tianhe Chemicals Group is scheduled to appear before a Hong Kong Stock Exchange disciplinary board today to appeal its delisting after the company’s prolonged suspension for failing to meet exchange requirements.
Infineum has signed a letter of intent to add a second phase to its lubricant additive plant in Zhangjiagang, Jiangsu province, China, expanding a facility that first began production in 2016.
A new Chinese national standard for diesel engine oil is expected to go into effect next year, leaving Chinese lubricant blenders relying on additive makers to comply, an official from one additive supplier said at a conference in Singapore this month.
Nicca Chemical plans to re-enter the lubricant market with the completion of its new fluorine plant in South Korea, increasing its production capacity by 30 percent, the company told Lube Report.
Viscosity modifier producer Innov Oil completed the relocation of its Singapore operations to a larger factory that provides increased production capabilities and storage capacity, the company announced last week.
Global lubricant additive demand volume will grow 0.5 percent per year from 4.6 million tons in 2018 to more than 4.8 million tons by 2023, consultancy Kline & Co. projected, slightly less than the growth projected for finished lubricants due to a sharp decline in detergents for marine lubricants.
Tianhe Chemicals recently reported a 57 percent decline in gross profits from its lubricant additives segment for the first half of 2019, citing challenges ranging from declining demand for its products to difficulty meeting customer requirements.
Sasol Ltd. opened its alkoxylation plant in Nanjing, China, last week, expanding its production of surfactants, some of which are used to make lubricants and metalworking fluid additives, the company announced. It is the companys first wholly owned facility in Asia.
Evonik announced on Monday it is expanding its production capacity for polyalkylmethacrylate-based viscosity modifiers by 15 percent to meet rising demand. The oil additives provider has a global production footprint, including plants in Singapore and China.
KH Neochems new refrigeration lubricant additive plant, expected to open early next year in Mie prefecture, western Japan, will increase the companys production capacity by 50 percent to meet Asias growing demand, the company said.