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Mergers/Deals/Acqusitions

Indian, German MWF Firms Form JV

Zavenir Daubert India Pvt. and Chemische Werke Kluthe GmbH formed a joint venture to strengthen their reach in markets for specialty chemicals such as metalworking fluids, and plan to build a plant and research and development center in western India by 2020.

Coal-based PAOs Coming to China

Naco Lubrication Co. and Luan Group are building a plant in Chinas Shanxi Province that will use coal-to-liquids feedstocks to manufacture polyalphaolefins for synthetic lubricants. The PAO facility is scheduled to begin operations in the third quarter of 2015.

JX, TonenGeneral Settle on April Merger

JX Holdings and TonenGeneral Sekiyu KK last week finalized their agreement to merge in April 2017 to become Japans largest oil refiner. Among midstream, downstream and energy ventures, the group said it expects lubricants to be one of its main growth segments in Asia.

Tianhe Chemicals Floats Stock

Tianhe Chemicals last week conducted a long-awaited stock offering aimed at raising funds to repay debt and invest in product development of its lubricant additive and fluorochemicals businesses.

National Association Proposed for India

India, the worlds third-largest finished lubricants market, does not have a nationwide trade group to represent the industry. A number of companies are now looking to remedy that by forming an association to act as their unified voice, after a consultant floated the idea at a Mumbai conference earlier this month.

Will Shell Divest its Stake in Tongyi?

Royal Dutch Shell is considering selling its 75 percent stake in Chinese lubricant joint venture Shell Tongyi (Beijing) Petroleum Chemical Co., Dow Jones news service reported last week.

Shell Selling Tongyi to Carlyle & Huos

Shell has agreed to sell its 75 percent stake in Tongyi Lubricants to United States-based equity firm The Carlyle Group and Tongyis founder and joint venture partner, Huos Group.

SK Acquires Stake in Vietnamese Blender

SK Lubricants acquired a 49 percent stake in Mekong Petrochemical JSC, Vietnams largest private lubricant company, as part of an expansion bid into the Southeast Asian market. The two companies finalized the agreement late last week.

Idemitsu and Showa Shell Merger Back On

The proposed merger of Japanese refiners Idemitsu Kosan and Showa Shell Sekiyu KK is back on again - scheduled this time for April 1, 2019, the companies announced Tuesday. The long-delayed deal would create Japans second-largest lubricant supplier.

Tianhe Opens India R&D Center

Tianhe Chemicals will soon open a 20,000 square meter research and development center outside Bengaluru, India - a facility that it claims will be the largest lubricant additive laboratory in Asia.
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