Universal Oil Inc. has expanded its coverage of Ohio by purchasing the lubricant business of a bankrupt oil products distributor. Universal, which is based in Cleveland, will pay $400,000 to acquire Greystone Holdings Inc.s lubes business, run by the latters Holmes Oil and M&M Oil divisions. Greystone, of Akron, Ohio, retains its fuels business. It filed for Chapter 11 bankruptcy protection last fall. The sale was approved late last month by a U.S. bankruptcy judge. Universal Vice President ...

On the brink of bankruptcy, Probex Corp. said this month that it has failed to obtain a key financial instrument for its proposed used lubricant reprocessing facility in Wellsville, Ohio, and that the chances of the project moving forward havebeen reduced. In a Feb. 5 news release, the Addison, Texas, company also stated that its financial predicament has likely doomed its other major project, a joint venture to build a reprocessing plant in France. Officials said Probex is trying to restructure...

In early January the Standards Division of the North Carolina Department of Agriculture and Consumer Services issued a stop sale order on Starbrite SAE 10W-30, 10W-40 and 20W-50 engine oil sold at Bi-Lo Food Stores. During the first two weeks of January about 10,000 quarts of this oil were removed from Bi-Lo stores in four states: North and South Carolina, Georgia and Tennessee. North Carolina officials stated that Bi-Lo Food Stores cooperated with them in the recall. Bi-Lo Food Stores did not ...