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JobbersWorld Archives
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JOBBERSWORLD...MARKET INTELLIGENCE FOR INTELLIGENT MARKETERS...
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PetroChoice Completes the Acquisition of Lorenz Lubricant Company
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PetroChoice, a leading provider of lubrication solutions, announced today that it has acquired the assets of Lorenz Lubricant Company, Inc. ("Lorenz"). PetroChoice is focused on acquiring best-in-class lubricant distributors to expand both its product and service offering to customers and its geographic footprint. "Lorenz brings a group of very talented people with deep expertise to PetroChoice," said Steve King, President of PetroChoice- Midwest Division. "We believe the partnership between PetroChoice and Lorenz, along with our recent acquisition of Rapids Hydraulics, will be very complementary given both companies' focus on providing unmatched service and reliability and we are excited about the growth opportunities for the combined businesses. We are also looking forward to increasing our presence in the expanded geographic footprint that Lorenz will provide."
Headquartered in Northfield, Minnesota, Lorenz is a leading distributor of Lincoln automatic lubrication systems and Whitmore speciality lubricants serving the commercial and industrial sectors in the upper Midwest region of the United States, including the Minneapolis and St. Paul market. In addition, the company is a Lincoln Certified Systems House, providing engineering, field installation and aftermarket services for automatic lubrication systems. It serves a diverse set of customers across a range of industries including industrial, construction, agriculture, manufacturing, railroads and trucking.
About PetroChoice:
PetroChoice is a leading value-added provider of petroleum based lubrication products and services in the Mid Atlantic and MidWest regions. The Company provides its customers with Lubrication Solutions to meet their Safety, Savings, and Sustainability goals. The Company distributes an extensive product offering of lubricants, filters, equipment, anti-freeze, degreasers and contamination control devices backed by unmatched technical expertise and services.
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Safety-Kleen Announces a Price Increase
| | Safety-Kleen announced a price increase on blended products of $0.25 a gallon. This increase is effective May 20, 2012. As with previous increases announced by other lubricant manufacturers, Safety-Kleen attributes this increase to rising raw material costs.
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American Refining Group Increases Prices
| Effective May 21, 2012, prices for motor oil, ATF, gear oil, greases and industrial lubricants sold by American Refining Group will increase by $0.35 a gallon. Some of the company's synthetic and specialty lubricants, however, increase at a higher rate.
This increase is also attributed to the higher cost of raw materials.
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Round One in 2012
| The following is a summary of recent price increase announcements. Correction: The previous issue of JobbersWorld displayed a chart showing Shell's increase as effective May 29, 2012, as noted in the April 17th issue of JobbersWorld, this increase is effective May 19, 2012, as shown below.
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| Energy Transfer Partners to Acquire Sunoco in $5.3 Billion Transaction | |
Energy Transfer Partners, L.P. and Sunoco, Inc. today announced that they have entered into a definitive merger agreement whereby ETP will acquire Sunoco in a unit and cash transaction valued at $50.13 per share, or a total consideration of approximately $5.3 billion, based on ETP's closing price on April 27, 2012. This combination will create one of the largest and most diversified energy partnerships in the country by expanding ETP's geographic footprint and strengthening its presence in the transportation, terminalling and logistics of crude oil, NGLs and refined products.
The merger consideration, which consists of $25 in cash and 0.5245 of an ETP common unit, or approximately 50 percent cash and 50 percent ETP common units, represents a 29 percent premium to the 20-day average closing price of Sunoco shares as of April 27, 2012. By acquiring Sunoco, ETP will also own Sunoco's general partner interest and the incentive distribution rights (IDRs) in Sunoco Logistics Partners (NYSE: SXL), as well as Sunoco's 32.4 percent interest in Sunoco Logistics Partners' limited partner units and Sunoco's branded retail business, which generates additional stable cash flows from a portfolio of approximately 4,900 retail locations in the U.S.
"This transaction, which will be immediately accretive, represents the next step in Energy Transfer Partners' transformation into a more diversified enterprise with an integrated and expanded footprint," said Kelcy Warren, ETP's chief executive officer and chairman of the board of directors. "As we have said in the past year, our goal is to derive more of our distributable cash flow from the transportation of heavier hydrocarbons like crude oil, NGLs, and refined products. With this transaction, we make a major move in that direction, bringing our cash flow mix related to the combined enterprise's pipeline businesses to approximately 70 percent natural gas and 30 percent heavier hydrocarbons. At the same time, we will enhance the size and scale of the ETP platform by creating new service capabilities and entering new geographic operating areas."
"This transaction will enable Sunoco's businesses to realize their full potential by becoming an important part of a diversified leader in the energy industry," said Brian P. MacDonald, Sunoco's president and chief executive officer. "In addition, it delivers an attractive premium to our shareholders, while enabling them to participate in the future growth of the business. The combination with ETP provides substantial future value-creation opportunities for Sunoco shareholders and ETP unitholders alike."
Commenting further, MacDonald said, "ETP recognizes that the steady, ratable cash flows that our logistics and retail businesses generate are backed by great assets, deep expertise, and the potential for future growth. ETP has an interest in growing its Marcellus Shale-related activity, and I am pleased that the combined enterprise will retain a strong Pennsylvania presence."
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CLASSIFIEDS
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 Lubricating Specialties Company
Lubricants and Fluids Sales position in the Central California market
Lubricating Specialties Company a well-established, leading blender and packager of oils, greases and industrial fluids on the West Coast, is seeking highly motivated and creative sales candidate. LSC is seeking to fill a Territory Sales Manager position in the Central California area. The successful candidate will be responsible for outside oil, grease and industrial fluid sales to an existing base of independent Jobbers. Duties will also include expanding the current customer base by adding new accounts and expanding product offerings in those accounts.
LSC offers an excellent salary package including commission, health insurance, 401k, fuel and cell phone reimbursement. Qualified candidates may submit resume to: acastillo@lubespecialties.com
Grade A Petroleum, a leading lubricant distributor in the Greater New York Metropolitan area, is seeking experienced and talented lubricant salespeople to join our team to market several major brands, including BP/Castrol and Conoco/76/Kendall. Applicants must be skilled in sales to both HDEO and PCEO market segments and willing and able to aggressively develop sales in lower New England, Northern NJ, New York City & Long Island. Position includes a base salary, benefits, commission & performance spiffs.
Please send resumes to mrobles@gradealube.com, www.gradealube.com.
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Written and published by experts, Jobbers World is brought to you by Petroleum Trends International, Inc.
Copyright ©
2012 Petroleum Trends International, Inc.
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