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Monday, November 14, 2016   VOLUME 12 ISSUE 46  
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Nissan Acquires Controlling Stake in Mitsubishi Motors

Nissan announced it has completed its acquisition of a 34% equity stake in Mitsubishi Motors becoming the brand’s largest shareholder. In May of this year, Nissan Motor said it would spend Yen 237.4 (US$2.2) billion for the 34% stake, becoming the controlling shareholder after a scandal at Mitsubishi involving falsified fuel-economy data.


Lubrication Engineers and Kyodo Yushi Create JV Company; to Build USA Lube Blending Plant

Wichita, Kansas-based Lubrication Engineers Inc. announced it is partnering with Kyodo Yushi USA to form a JV company, Kyodo Yushi Manufacturing Americas that will operate a $35 million manufacturing plant in Wichita. Japan-based Kyodo Yushi is one of the leading grease manufacturers in the world.


LUKOIL to Supply Volkswagen Group Rus with Initial Fill Lubricants in Kaluga

LUKOIL and Volkswagen Group Rus announced last Monday that they have signed an agreement under which LUKOIL will supply first fill, or factory fill, lubricants, in particular, LUKOIL GENESIS VS 5W-40 motor oil which meets the requirements of VW TL 52167 specifications, to VW’s plant in Kaluga.


Valvoline's 3Q and FY Sales and Earnings Up; FUCHS Reports Double-digit 9M16 Sales Growth

Valvoline reported increases in lubricant volumes and sales of 2 percent, or 43.5 million gallons to 44.5 million gallons and $484 million to $494 million, respectively. FUCHS PETROLUB reported that the Group recorded a double-digit increase in sales revenues in the first nine months of 2016. EBIT increased by 6% to EUR 276 million.


Massive Engine Oil Loss Potential Prompts Ford to Issue Recall and "Stop-Sale"

Ford is issuing a safety recall and stop-sale on Mustang Shelby GT350 and GT350R after discovering improperly crimped engine oil cooler tube assemblies which can separate, causing massive oil loss and a potential fire hazard. Ford has also instructed dealerships to immediately halt any test drives or demonstrations.


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