Quaker Acquires Remaining Interest in India Joint Venture
Quaker Chemical is a leading global provider of process ﬂuids, chemical specialties, and technical expertise to a wide range of industries, including steel, aluminum, automotive, mining, aerospace, tube and pipe, cans, and others. For nearly 100 years, Quaker has helped customers around the world achieve production effciency, improve product quality, and lower costs through a combination of innovative technology, process knowledge, and customized services. Headquartered in Conshohocken, Pennsylvania USA, Quaker serves businesses worldwide with a network of dedicated and experienced professionals whose mission is to make a difference. Quaker Chemical Corporation announced that it acquired the remaining 45% ownership interest in its India joint venture, Quaker Chemical India Private Limited (QCIL), from its joint venture partner, Asianol Lubricants Private Limited. The JV had locations throughout India to serve metalworking and steel industries. Asianol has a factory in Kolkata and depots in Raipur, Hyderabad and Pune. Quaker is building a plant in Dahej, north of Mumbai, which will be completed within a year.
India has been relaxing its restrictions on foreign-owned businesses in recent years in a bid to attract more outside investment. Previously, some types of businesses required domestic entities to own majority stakes in joint ventures.
Brenntag Claims Raj Petro
Brenntag AG is a German chemical distribution company in Berlin. Brenntag distributes petroleum-related products to customers in India, Asia Pacifc, Africa and the Middle East.
Brenntag AG signed an agreement to get hold of India’s Raj Petro Specialities Pvt. in two phases. It will acquire a 65 percent stake of the Mumbai and Chennai-based supplier of lubricants and process oils in the frst tranche of the deal, which is expected to close in April. Brenntag will acquire the remaining 35 percent in 2022, or may choose to defer the deal for another year or two. The two frms will operate Raj as a joint venture in the interim.
With facilities close to major ports in the west and the southeast of India, Raj offers Brenntag the potential to expand beyond India, Brenntag Asia Pacifc CEO Henri Nejade said. Brenntag has been gradually acquiring chemical distribution companies around the world throughout the past decade. It entered Asia in 2008 and has since expanded to 15 countries in the region.
BP Lubricants to Add Third Plant in China
British Petroleum is a British multinational oil and gas company headquartered in London. It is one of the world's seven oil and gas "supermajors", whose performance in 2012 made it the world's sixth-largest oil and gas company, the sixth-largest energy company by market capitalization and the company with the world's twelfth-largest revenue (turnover). BP said that it plans to build its third plant for blending lubricants in China by the end of 2021, in Tianjin for about 1.5 billion yuan ($227 million) as it looks to meet the country’s rapidly growing demand. The plant’s annual production capacity of 200,000 metric tons will include lubricants and greases for automotive, industrial, marine, and aviation applications, as well as specialty lubricants and additives. “Premium lubricants are a growth business for BP and ensuring that we can meet demand in a country growing as quickly as China is essential to our success,” said BP Downstream CEO, Tufan Erginbilgic, in a company statement. China’s lubricant market slowed up in the past years, BP’s announcement can boost up the demand in the country.
Servo Auto Ancillary Meet 2017
Indian Oil has conducted frst ever Servo Auto Ancillary Meet at Gurgaon 21.12.2017. Programme was attended by 114 participants from 51 Auto Ancillary industries and Machine OEMs of North and Eastern India. Customers have also made presentations regarding performance and savings achieved by use of Servo lubricants.
Chief Guest of the event was Shri Sunil Kakkar, Executive Vice President (Supply Chain) of Maruti Suzuki India Ltd., Gurgaon. He gave a glimpse of future prospects of Automobile Industry and related changes expected in Auto Components.
Shri KL Murthy, Executive Director (Lubes) Indian Oil Corporation Limited emphasised on the importance of Indian Auto Ancillary industry considering high growth trajectory of the automobile industry. He highlighted role of Servo range of lubricants in the rapidly changing manufacturing technologies.
There was panel discussion on Growth Opportunities & Challenges for Indian Auto Ancillary Industries. Role of Lubricants & Metal Working Fluids in Auto Ancillaries was also discussed. Panellists were Shri SK Shrivastava, Uno Minda Group; Dr. Baldev Chhikara, Mark Exhaust System Ltd. and Shri Soumen Ganguly, Indian Oil. Impact of technological disruptions like BS VI fuels, Electric Vehicles was also deliberated by highly experienced panellists.
There were 3 technical sessions:
- Metal removal ﬂuids,
- Metal treatment & Metal protection ﬂuids
- Metal Forming ﬂuids/other oils & Productivity improvement tools
16 presentations were made by Auto Ancillary Industries, Metal working equipment OEMs and Research Scientists of Indian Oil. Active participation of the industry members resulted in highly engrossing Q&A sessions. Programme was well received by participants.