Keywords
Citation
(1998), "BP to sell Adibis business to Lubrizol", Industrial Lubrication and Tribology, Vol. 50 No. 4. https://doi.org/10.1108/ilt.1998.01850dab.005
Publisher
:Emerald Group Publishing Limited
Copyright © 1998, MCB UP Limited
BP to sell Adibis business to Lubrizol
BP to sell Adibis business to Lubrizol
Keywords: Petrochemical industry
BP Chemicals is to sell its Adibis lubricant and fuel additives business to the Lubrizol Corporation of the USA, for an undisclosed sum.
Adibis, UK headquarters at Redhill, Surrey, manufactures and sells a wide range of automotive and marine lubricant additive packages and a range of automotive fuel additive packages. Sales turnover in 1997 was more than £100 million. Lubrizol, headquartered in Wickliffe, Ohio, is a worldwide supplier of performance chemicals for lubricants and fuels and other speciality markets.
BP Chemicals is focusing increasingly on the petrochemical sector and Adibis makes an excellent fit with Lubrizol's current business and future growth plans.
On completion, it is expected that approximately half of the 165 employees will transfer to Lubrizol. Manufacturing staff will remain with BP Chemicals because BP will supply components and additive packages to Lubrizol from its Hull site under a two-year manufacturing agreement. Lubrizol will integrate the Adibis business into its operations over several years and will continue to supply Adibis customers with the existing range of products and technologies. This will allow uninterrupted supply and service to customers.
The deal includes the entire BP Chemicals (Adibis) business in Scandinavia and South Africa and most of that in the UK, together with sales offices in Singapore, Australia, Hamburg, Vienna, Paris and Antwerp. Manufacturing facilities and a field test centre at the Hull site are excluded. The field test centre will operate for a transition period to complete the existing work.
BP Chemicals is part of British Petroleum plc, the holding company of one of the world's largest petroleum and petrochemical groups. BP's main activities are in the exploration and production of crude oil and natural gas, refining, supply and transportation, and the manufacturing and marketing of chemicals. The company has a growing activity in solar power generation.