76 Lubricants to Buy Kendall, Sunoco Oils
Permatex Buys Its Worldwide Rights

76 LUBRICANTS TO BUY KENDALL, SUNOCO OILS

76 Lubricants Company has signed an agreement to purchase Sunoco’s Kendall motor oil brand for an undisclosed amount. Included in the deal are Sunoco’s customer lists and other related assets for both the Sunoco and Kendall brands.

Garry Rooney, president of 76 Lubricants said, "The acquisition of the Kendall and Sunoco lubricants marketing business will provide us with instant market penetration and expansion opportunities on the East Coast."

76 Lubricants officials say they will serve the additional business through its existing network of proprietary and contract terminals.

The transaction is expected to close during the first quarter of 2001 and is subject to the completion of due diligence and regulatory approval.

76 Lubricants is a division of Tosco.

PERMATEX BUYS ITS WORLDWIDE RIGHTS

Permatex, Inc., announced that it has purchased the worldwide rights to its Permatex brand and related businesses from Loctite Corporation. Permatex previously held rights only for the business in North America.

Terms of the agreement were not announced.

Permatex has had a presence in Asia, Africa, Europe, Central America, South America and the Middle East but the international business has reportedly lacked a dedicated automotive focus for almost two years.

"This action opens up an incredible number of markets," said Permatex President Pat Formica. "There hasn’t been a single overseas promotion or new-product introduction under the Permatex banner since 1998."

Permatex says they will "revive" international demand by introducing new products and promotions.

Formica predicts that international operations will add about $5 million to the company’s revenues in 2001 and by $25 million within five years.

Originally published in the February/March 2001 issue of Automotive Booster Magazine.
Copyright 2001 by KAL Publications Inc.