ILMA Compoundings September 2018 - 40

IN NETWORK

Member Connections
LANXESS CORP. STRENGTHENS
NORTH AMERICAN ASSET BASE

HOLLYFRONTIER TO ACQUIRE
RED GIANT OIL
HollyFrontier Corp. announced that it
has entered into a definitive agreement
to acquire Red Giant Oil Co. Red
Giant Oil, a private, family-owned
lubricants company founded in 1903,
is one of the largest suppliers of locomotive engine oil in North America.
Headquartered in Council Bluffs,
Iowa, Red Giant Oil has storage facilities in Idaho, Utah and Wyoming,
along with a blending and packaging
facility in Texas. The purchase agreement would keep the 50-employee
business operating as a separate entity
within HollyFrontier's lubrication
division, said Red Giant Owner and
President Sherryl Bills-Taylor. That
was a key factor in agreeing to sell to
HollyFrontier, she said, rather than a
buyer that would consolidate it into
another business.
"We are pleased to announce the
acquisition of Red Giant Oil, with
its outstanding history and brand in
the railroad lubricant industry," said
George Damiris, president and CEO
of HollyFrontier. "This transaction
demonstrates the continued growth

40

SEPTEMBER 2018

| COMPOUNDINGS | ILMA.ORG

of our lubricant business and brings
outstanding value to HollyFrontier."
This transaction is subject to customary closing conditions and is expected
to close in the third quarter of 2018.
RICHARDSAPEX ADDS TO
R&D TEAM
RichardsApex, a Philadelphia-based
supplier of lubricants to the wire drawing and rod rolling industries, selected
Janelle Gerardi to join its research and
development team. Gerardi graduated
from Villanova University with a B.S.
in chemistry and worked in the precious metals industry before coming to
RichardsApex.

Janelle Gerardi

Specialty chemicals company LANXESS
is strengthening its presence in the
growth market of North America with
a comprehensive investment program.
The company plans to invest up to
$580 million in its asset base there
until 2022.
"North America, and in particular
the U.S., is a key growth market for
LANXESS, where we have enlarged
our footprint significantly with our
recent acquisitions. Now we plan to
upgrade our asset base there in order
to leverage on its full potential,"
Matthias Zachert, chairman of the
Board of Management of LANXESS,
said during a U.S. visit.
More than $100 million of the total
amount will be spent by the end of
2018, some $50 million at the company's largest U.S. site in El Dorado,
Arkansas - mainly to upgrade the bromine brine exploration network, as well
as the site infrastructure and pipelines.
El Dorado is the backbone of
LANXESS' highly integrated value
chain for brominated products. At
the site, LANXESS currently employs
approximately 600 people.
ERGON PURCHASES RESINALL
Ergon Inc., announced that its wholly
owned subsidiary, Ergon Chemicals
LLC, completed the purchase of
Resinall Corp., Resinall Mississippi
Inc., Industrial Transport Inc. and
Resinall QALICB LLC (Resinall), on
Aug. 1. Resinall is a manufacturer of
thermoplastic resins and polymers with
http://www.ILMA.ORG
ILMA Compoundings September 2018

Table of Contents for the Digital Edition of ILMA Compoundings September 2018
