Toronto-based Lifesciences Capital Corp. has signed a letter of intent to purchase all the issued and outstanding shares of Bio-Extraction Ltd., whose technology can extract mineral oils from such industrial materials as metal grinding sludge and swarf, metal filings and turnings covered in industrial lubricants. The purchase price is Canadian $14 million. Bio-Extraction developed and is commercializing a proprietary extraction technology, which it then uses to extract various active ingredients...

Metalloid Corp. subsidiary Fin Works, Burr Held and Burr Oak Tool and Gauge Co. have announced an alliance to provide product solutions – including metalworking fluids and compounds – for heating, ventilation and air conditioning manufacturers in Europe, Russia, Middle East and China. Under the agreement, Burr Held will globally manufacture Fin Works fin stamping, tube bending, expanding and HVAC related products. The advanced formulations include technologies such as non-VOC (volati...

WD-40 Co. yesterday reported its net sales forits first quarter, ended Nov. 30, 2006, were $72 million, a 7 percent increase over the first quarter of the previous year, but net income for the quarter declined 24 percent, to $5.7 million, compared to the year-ago period. Earnings per share were 33 cents in the first quarter, compared to 45 cents per share in the same quarter a year ago, a decrease of 26 percent. Cost of goods during the first quarter was 52.1 percent of sales, compared to 51.9 ...

Polartech Indias new manufacturing facility, which has capacity to blend up to 30,000 metric tons of metalworking fluid products per year, has begun production, the company announced this week. The company said the new facility in Charlapally, Hyderabad, is a significant step up from its existing site. The 12 blending vessels and six reactor vessels are all constructed from stainless steel and mounted on state-of-the-art load cells, the company said. Polartech spokesman Peter Richards said the c...

Industry sources had different views on why the lubes market appeared to remain sluggish through most of 2006, with fuel prices, auto sales, increased intervals between oil changes and increased exports among the possible factors mentioned. U.S. lubricant sales volumes in the third quarter of 2006 fell 5.1 percent compared to the same period of 2005, according to the latest sales data from the National Petrochemical and Refiners Association. The organization Dec. 20 released its Quarterly Lubric...