Crompton Corp. says it plans to cut approximately 540 jobs as part of a plan to restructure operations. A spokeswoman said the company has not yet determined which businesses will be impacted, but management is expected to make those decisions this quarter. The Middlebury, Conn., chemical company said July 22 that it was undertaking the plan to cut expenses and preserve margins in the face of surging raw materials costs. Chairman, President and Chief Executive Officer Robert L. Wood said Crompto...

In a move likely to be followed by other marketers, ConocoPhillips Co. announced last week that most of its passenger car motor oil business will soon sail under a synthetic blend label. At an Aug. 3 news conference, the Houston-based company said it will upgrade its mainline products as part of its switch to the new GF-4 passenger car motor oil specification. Officials said the upgrade will enable ConocoPhillips to offer performance that exceeds the new standard. ConocoPhillips is the first maj...

BP has agreed to merge its automotive lubricant subsidiary in Japan with a domestic importer that has handled some of its lube brands for 26 years. The deal will put Japanese sales of BP and Castrol products under control of a single publicly traded company that claims about 10 percent of that countrys market. The agreement, announced Aug. 4, is between BP Japan and Tokyo-based Petrolub International. Petrolub is a publicly traded company that has imported, manufactured and marketed BP and Duckh...

Lubricating Specialties Co. announced Monday that Stephen Milam, current president and chief operating officer, together with private equity firm Vintage Capital Group, has acquired full ownership of the independent lubricant and grease manufacturer. Milam bought out former majority owner and CEO Fred Atchitys interest in the Pico Rivera, Calif., company. He declined to disclose terms of the sale. Atchity and Milam bought LSC in 1998 from Michael Delaney and Armen Hampar, under whose 30-year con...