Joy Global last Thursday announced that its Board of Directors has unanimously approved a definitive merger agreement under which Komatsu America Corp., a subsidiary of Komatsu Ltd., will acquire Joy Global in a transaction valued at approximately $3.7 billion, including Joy Global’s outstanding indebtedness.

Four major European truck manufacturers have been fined a record €2.93 (US$3.23) billion by the European Union for colluding on prices and passing on the costs of emissions-reducing technology. The European Commission said Daimler, DAF, Iveco, MAN and Volvo/Renault colluded over 14 years to fix prices. VW-owned MAN avoided a fine as it blew the whistle on the cartel.

RelaDyne announced it has entered into a purchase agreement with Audax Private Equity, a private equity company focused on building leading middle market companies. RelaDyne, with this new partnership, will be focused on accelerating its acquisitions both in number of deals and size of companies.

New Shell ROTELLA® T4 Triple Protection and Shell ROTELLA® T5 10W-30 Synthetic Blend have been developed by Shell to meet the new API CK-4 service category for diesel engine oil. FA-4-grade Rotella T5 Ultra [Synthetic Blend] 10W-30 and T6 Multi-Vehicle (diesel or gas engine) 5W-30 are forthcoming by year’s end.

American Refining Group and Novvi LLC, a joint venture of Amyris, Inc. and Brazil's Cosan S.A. last Tuesday announced that ARG has committed to a 33.3% equity investment into the joint venture. Both Amyris and Cosan will continue to hold share ownership stakes in Novvi, together with ARG.

• Dow and DuPont Stockholders Approve Merger
• Halfords Group to Retail PETRONAS Lubricants in UK
• The AXEL Group Announces Creation of AXEL Asia Pte Ltd (Singapore), a Subsidiary of Axel Christiernsson International AB
• Timken Acquires Lovejoy
• Petro-Canada Gains HDDEO (DURON-E) Business of Freightliner Manitoba at Six Freightliner Maintenance Facilities Across Province of Manitoba, Canada
• Ground Breaking Ceremony Held Last Week for Hyrax Oil Sdn Bhd’s USD30 Million, 12 Million GPY Lubricant Blending Plant in Muthurajawela, Near Colombo, Sri Lanka