Fuchs Petrolub SE and the naphthenic business unit of Nynas reported increased profits and sales for 2017.
BPs lubricants business reported an underlying replacement cost profit before interest and tax of $375 million for the fourth quarter, up 5 percent from $357 million a year earlier; and almost $1.48 billion for 2017, down 2.6 percent from $1.52 billion in 2016. The result for the quarter and full year reflects growth in premium brands and growth markets, offset by the adverse lag impact of increasing base oil prices, the London-based company stated in its stock exchange announcement Feb. 6. Replacement cost profit reflects the replacement cost of supplies.
United Kingdom-based transformer oil rerefiner Hydrodec Group posted its first positive full-year profits in the groups history for 2017, and its revenues were up 6 percent from 2016, according to its pre-close trading update issued Monday.
Chemical manufacturer Saudi Basic Industries Corp. purchased a 24.99 percent stake in Clariant, making the Saudi Arabian company the largest Clariant shareholder. The shares were previously owned by White Tale and 40 North. Financial terms of the agreement were not disclosed.
Four years after acquiring the Lubritene and Lubrasa specialty lubricant businesses and making them part of its South Africa subsidiary, Fuchs Petrolub has turned them into a division of its Lubritech specialty lubricants company.