Lubrizol Corp. yesterday announced a 10-year phased investment plan to upgrade and increase global capacity in its additive business, geared to an estimated 1 percent annual growth in global additives demand. The company plans extensive debottlenecking at its existing facilities and a greenfield investment in China that together will require a $200 million investment over the next decade. The investment is in addition to the Lubrizol Additive segments continued reinvestment in its existing oper...

According to a March 23 report in Britains online newspaper Telegraph, several large private equity firms plan to submit offers for Infineum International Ltd., which the paper said is valued at up to 2.5 billion (U.S. $3.9 billion). The Telegraph, which did not cite any sources for its information, said the firms included Apollo Management, BC Partners, Carlyle Group, Cinven, Kohlberg Kravis Roberts and Vestar Capital Partners. ExxonMobil Chemical and Shell Chemicals Ltd. earlier this month ann...

Total U.S. lubricant sales volumes in the fourth quarter of 2007 climbed 3.6 percent compared to the same period in 2006, according to the latest sales data from the National Petrochemical and Refiners Association, but full-year sales volumes declined 2.9 percent from 2006 levels. The organization March 17 released its Quarterly Lubricant Sales Survey showing that volumes for the fourth quarter rose across most major sectors of the market. Grease sales – the lone exception – fell 6.3...

BASF and China Petroleum and Chemical Corp. (Sinopec) on Thursday submitted the technical and commercial feasibility study for approval of a planned $900 million expansion of their joint chemicalsite in Nanjing to the Chinese government. Some of the chemicals produced by the sites plants can be used in lubricant additives, solvents, and biocides. BASF spokesman Gareth Rees said the companies have already conducted debottlenecking and preparatory work. The expansion will involve construction of ...

TAMPA, Fla. – Two years ago blow-molded polyethylene prices began to follow crude oil pricing. Today, where crude pricing goes, resin prices follow, a packaging expert warned the petroleum packaging conference here earlier this month. Dont expect polyethylene prices to fall as long as oil stays high. Kirk Rumsey, Rexam vice president for global commodities based in Perrysburg, Ohio, identified key changes in global and North American energy markets that are driving pricing for the resins ...

LONDON – Chinas gross domestic product is forecast to grow 9 percent per year through 2011, car sales are expected to increase more than 20 percent annually, and the commercial vehicle population is climbing more than 7 percent per year. That contributes to attractive growth in Chinese lubricant demand, according to consultancy Kline Asia, despite base oil shortages, a lube consumption tax and a fragmented market. China has the worlds fifth largest economy and one fifth of the worlds popul...