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Monday, July 25, 2016   VOLUME 12 ISSUE 30  
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Komatsu to Acquire Joy Global in $3.7 Billion Deal

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.


EU Fines Leading European Truck OEMs €2.93 Billion for Operating Price Fixing and Emissions Cartel

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.


Allegheny Petroleum, Paramount Break Ground on 2.4 Million GPY Lube Blending Plant in Jamaica

Wilmerding, Pennsylvania-headquartered Allegheny Petroleum Products Co. and Kingston, Jamaica-based Paramount Trading Jamaica Ltd held a groundbreaking ceremony last Wednesday to build a 2.4 million gpy capacity lubricant blending plant in Kingston, Jamaica, the first and only lubricant blending plant in the country.


RelaDyne Acquired by Private Equity Firm

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.


Shell Announces New Rotella Portfolio to Meet API CK-4 and FA-4 Categories

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.


ARG Invests in Novvi to Accelerate Amyris Commercialization of Renewable Base Oil and Lubricant Platform

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.


  • 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

Reference Center

Global Lube Base Oil Specifications

API Group I
API Group II
API Group IV
API Group V

July 18, 2016
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