Volume 10 Issue 40

Lubrizol Bullish on Additives

Top Lubrizol executives dished upbeat news about the lubricant additives market to analysts yesterday, and the company also established a new 2013 goal for earnings of $13.50 per share, up 80 percent from 2009 results. In February, the company stated an earnings per share goal of $10 by 2012. Given our favorable results to date, we expect to meet this goal ahead of schedule, said James Hambrick, Lubrizols chairman, president and CEO. And so, we believe it is appropriate to revisit our longer-te...

Third Coast Thinks Big

Third Coast Terminals yesterday outlined plans to triple capacity at its Pearland, Texas, facility through a major expansion scheduled for completion in 2013. Groundbreaking took place in February at the petrochemicals and lube additives handling company, and the project will be completed in stages. The project will include a new tank farm with 7 million gallons (26,000 metric tons) of storage, six truck scales and segregated storage for hazardous materials. The expansion is driven by the cont...

Brake Leaks Prompt Recall

BMW of North America will recall nearly 200,000 vehicles because a leak may develop in their power braking systems, hindering stopping power. On Thursday, the company notified the National Highway Transportation Safety Administration of the voluntary recall, which applies to 198,000 V8- and V12-powered BMW 5 Series, 6 Series, 7 Series and Rolls-Royce Motor Cars produced between 2002 and 2010. In the vehicles covered by the recall, the brake vacuum pump and the brake booster are connected by a ...

Sri Lanka to Widen Lube Market

Sri Lankas government appointed a five-member committee to recommend new licenses for importing and distribution of lubricating oil. As there is a great demand for the import of lubricating oil, the ministry has decided to widen the lubricating oil market by issuing new licenses, stated a report in Sri Lankas state-run Daily News on Sept. 25. According to the article, the committee members include officials from Sri Lankas Standards Bureau, Treasury, Ceylon Electricity Board, and Industry and ...