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Article: Calumet seeks potential buyer. (Calumet Industries Inc., lubricating oils refiner)
- Article from:
- The Oil Daily
- Article date:
- March 6, 1990
- Author:
CopyrightCOPYRIGHT 1990 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Calumet Seeks Potential Buyer
CALUMET INDUSTRIES Inc. is continuing to seeks a buyer for the corporation and is expanding into new product areas while under Chapter 11 bankruptcy protection.
Chicago-headquartered Calumet, a refiner of lubricating oils, has been for sale since September. Caught in a cash squeeze, it filed for bankruptcy protection Feb. 22, but it expects no disruption of the flow of oils to its customers, according to Philip A. Campbell, vice president for marketing.
"We have adequate stocks and are continuing as usual," he said.
Calumet's troubles started in the mid-1980s, when the Occupational Safety and Health ...