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Chemtura Announces Intent to Acquire Kaufman
Holdings |
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Chemtura Corporation (NYSE: CEM) and Kaufman
Holdings Corporation announced today that they have
signed a letter of intent for Chemtura to acquire
Kaufman's stock in a cash transaction expected to
close in the first quarter of 2007. Terms of the
transaction, which is subject to final negotiations
and regulatory approval, were not disclosed.
"Through this transaction, Chemtura would gain
strong positions in two exciting new markets:
high-growth lubricants for CFC-free refrigeration
compressors and high-purity synthetic lubricants,"
said Chemtura Chairman and CEO Robert L. Wood.
"Chemtura has the global scale and specialty
chemical expertise needed to maximize the potential
of these dynamic businesses," said Kaufman President
and CEO Alex Kaufman.
Kaufman is a privately-held corporation with
approximately 300 employees and 2006 revenues in
excess of $200 million. It has manufacturing
facilities in Fords and East Hanover, N.J. and
Oakville, Canada.
Kaufman includes two operating companies, 1)
Hatco Corporation, a worldwide leading producer of
polyol esters used for technically demanding
synthetic lubricant applications, including aviation
turbine oils and lubricants for CFC-free
refrigeration compressors; and 2) Anderol, Inc., a
worldwide leader in high-purity, synthetic
lubricants used in demanding aviation and industrial
applications such as compressors, bearings, gears
and food-grade machinery.
Kaufman Holdings Corporation is a leading
producer of specialty chemicals for use in the
automotive, aviation, refrigeration, industrial,
cosmetic and personal care markets. It serves
customers and markets through a global network of
integrated sales, production, research, technical
service and distribution facilities. Chemtura
Corporation, with pro forma 2005 sales of $3.9
billion, is a global manufacturer and marketer of
specialty chemicals, crop protection and pool, spa
and home care products. Additional information
concerning Chemtura is available at www.chemtura.com.
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Shell Makes Some Interesting Price Adjustments to
FormulaShell |
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Shell advised its marketers this month about several
changes to its FormulaShell pricing program. The
changes impact pricing to contract Shell marketers.
One change that certainly got the attention of
marketers was word that Shell will lower distributor
prices for bulk FormulaShell by $0.35 a gallon.
Although marketers say their first reaction to the
price decrease, was for obvious reasons, welcomed,
they were not sure what to make of it after they
looked at other changes to FormulaShell pricing.
This is because the other changes impact programs
that included price incentives.
Shell announced, for example, that it will end the
current VDI program for FormulaShell in bulk,
effective 2007. As a result, any off invoice
discounts offered under this program will be gone.
At the same time, however, they say Shell will
introduce a new “FormulaShell Brand Commitment
Program (BCP) to replace the VDI, and this program
could turn the tables back to a net price decrease.
In the words of several marketers, these changes
mean different things to each marketer. Some will
come out ahead and others will not.
Get all the details on these changes in the next
print issue of Jobber World
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ConocoPhillips Makes Changes to its Oil Analysis
Program |
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According to a number of marketers carrying the
ConocoPhillips family of lubricants, ConocoPhillips
announced it will make significant changes to its
AnalysisPlus oil analysis programs. One change
includes consolidation of suppliers providing oil
analysis services to the program. Effective January
1, 2007, marketers will have the option of using
only POLARIS Labs or Staveley Services (aka CTC) for
the AnalysisPlus Premium Testing. Analysts, Inc. and
Wear Check will no longer be an option. Lab One
Inc., however, will continue to provide Basic
testing.
From what ConocoPhillips is reportedly telling its
marketers this consolidation will result in a
significant reduction in the price of its
PremiumTesting option and all historical trend data
can be transferred from the labs that are not in the
program to those that are. In addition, test methods
at Lab One will be upgraded to ASTM protocols. These
upgrades will reportedly result in a price increase
for basic testing.
Another important change to the program is said to
be ConocoPhillips decision to change software
service providers. Whereas Dingo Maintenance Systems
currently provides this service, starting in 2007,
software service for the AnalysisPlus program will
be provided by the oil analysis laboratories in the
program. Marketers say they are comforted to hear
that ConocoPhillips has contracted with Dingo to
assist with the transition.
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