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ExxonMobil's Response to Valvoline's Claim |
As reported in JobbersWorld on December 11,
and further detailed in the December 13 issue
of JobbersWorld, the Valvoline Division of
Ashland went public on November 20, 2008 in a
letter to Valvoline Customers saying that
"Mobil 1 5W-30 does not meet minimum API SM
or ILSAC GF-4 specification because of its
inferior performance in the Sequence IVA wear
test." In addition, the letter closed with
"Please refer to the attached Q&A for
additional data."
For those that took the time to read the Q&A
sheet that accompanied Valvoline's letter
(see link below), Valvoline turned up the
heat even more by saying " Mobil 1 5W-30 DOES
NOT MEET the most basic API SM or ILSAC GF-4
specifications. That means Mobil 1 5W-30
cannot meet basic GM, Ford, Chrysler or Honda
specifications."
Ouch! That's certainly a serious claim, and one
that Thomas R. Smith, Technical Director of
Valvoline Lubricants told JobbersWorld he
stands behind. According to Smith, Ashland
made ExxonMobil aware of this issue in
September and as of December 11th,
"ExxonMobil has been silent."
But whereas ExxonMobil apparently has not
responded directly to Ashland, they did
respond to JobbersWorld's request for a
comment. So here it is, ExxonMobil's response
to the press:
"We would like you to know that while we are
aware of Valvoline's assertions, ExxonMobil
stands behind the quality of Mobil 1 and all
of our lubes products. ExxonMobil's GF 4
licenses for all product lines are valid."
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ROYAL MFG COMPANY LEADS WAY WITH NEW ROUND OF PRICE DECREASES |
Royal Mfg Co and affiliates Troco Oil
Company, Tulsa, OK and Wright Oil Company,
San Antonio, TX has stepped out with price
reduction adjustments for branded and
unbranded lubricants. The adjustments will
be from $1.00 to $1.60 per gallon and from 6
to 14 cents per pound on grease. This will
include all finished lubricants except
synthetic products, white oils, food grade
and bio-based lubricants. The new prices
will go into effect on all orders in house
and on new orders received on or after
December 22, 2008. All special discounts
will be rescinded with this offer.
Royal says, "Our customers and a number of
prospects are asking for reduced prices
prompting us to make a sizeable reduction in
our selling price to give our distributors a
decided advantage over cost from other lube
oil suppliers including major oil companies.
Additionally, we would like to reduce our
inventories in preparation for lowered raw
material costs."
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CONOCOPHILLIPS COMPANY INTRODUCES 76® SUPER SYNTHETIC MOTOR OIL |
ConocoPhillips Company announced the
introduction of 76 Super Synthetic Motor Oil
to its existing line of high quality
lubricant products. According to
ConocoPhillips, the new 76 Super Synthetic is
a premium full-synthetic passenger car engine
oil that is specially formulated to meet the
rigorous performance requirements of the
GM4718M ("Corvette") specification. It is
also recommended for use in most late model
Cadillacs as well as all turbo-charged
General Motors engines, according to Clarence
McCollum, Director of Automotive Products,
ConocoPhillips Company.
"We formulated 76 Super Synthetic Motor Oil
with high quality synthetic ingredients to
provide enhanced performance benefits when
compared to conventional engine oils,"
explained McCollum. "The benefits include
improved oxidation resistance, enhanced
thermal stability at high temperatures as
well as better low-temperature pumbability.
By upgrading to this new motor oil, passenger
car owners can be assured that their engine
will continue to run at peak performance
while also achieving improved fuel economy."
The new 76 Super Synthetic Motor Oil is
available in two viscosity grades, SAE 5W-30
and SAE 10W-30, which both meet or exceed API
SM/CF and ILSAC GF-4 performance requirements
for new cars under warranty. Additionally,
the SAE 5W-30 viscosity grade meets the
performance requirements of the Honda HTO-06
standard for use in the Acura RDX.
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High Velocity Alternative Energy, Inc. Completes Acquisition of American Chemical Exchange, Inc. |
High Velocity Alternative Energy, Inc.
(PINKSHEETS: HVAE) announced that the Company
has executed a Stock Purchase Agreement and
completed the purchase of American Chemical
Exchange, Inc. ("ACE") of Pasadena, CA. High
Velocity entered into a Letter of Intent with
ACE in July 2008. ACE was owned by Robert
Somerman; as part of the Letter of Intent to
purchase ACE, Mr. Somerman was appointed
President and CEO of High Velocity. ACE
becomes a wholly owned subsidiary of High
Velocity. The terms of the purchase of 100%
of the shares common stock of ACE for a
purchase price of 14,000,000 shares of
restricted common stock of HVAE and the
payment of $150,000.00, in six payments.
Robert Somerman was also given an employment
Agreement for a period of five years, at an
initial salary of $180,000 per annum.
Mr. Somerman stated, "The joining of the two
companies, both sharing similar business
models and philosophies, will immediately
increase an economy of scale and accelerate
the expansion of opportunities into new
markets and products for High Velocity."
American Chemical Exchange, Inc. is a middle
market petroleum-based lubricant company with
an emphasis on the recycling of glycols for
use in industrial and automotive coolants.
Additionally, the company specializes in the
refining, blending, packaging, and
distributing of lubricants, coolants, and
other chemicals sold primarily to the
automotive aftermarket through established
distribution channels.
About High Velocity Alternative Energy, Inc.
Headquartered in Bedford Park, IL, High
Velocity Alternative Energy, Inc. is a
holding company that specializes in the
refining, blending, packaging, and
distribution of middle market petroleum and
related products to the automotive and
manufacturing aftermarket. These products are
sold, both direct and through regional
distributors, to retail outlets that include
oil change shops, automotive aftermarket
chains, gas stations, department stores, and
convenience stores. The Company utilizes an
innovative technology to capitalize on
renewable energy and lubricant resources by
recycling spent oils and glycols. High
Velocity Alternative Energy's 40,000 square
foot plant is conveniently located outside
Chicago with access to interstate and railroad.
Forward-Looking Statements
This press release contains forward-looking
statements, which represent the Company's
expectations or beliefs, including, but not
limited to, statements concerning plans,
growth and strategies, which include, without
limitation, statements preceded or followed
by or that include the words may, will,
expect, anticipate, intend, could, estimate,
or continue or the negative or other
variations thereof or comparable terminology.
Any statements contained in this press
release that are not statements of historical
fact may be deemed to be forward-looking
statements. These statements by their nature
involve substantial risks and uncertainties,
some of which are beyond the Company's
control, and actual results.
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