BP Amoco, Alcoa Expand Through Acquisitions

Jan. 13, 2005
BP Amoco PLC, the Anglo-U.S. petroleum producer, has agreed to acquire Burmah Castrol PLC, the UK independent lubricants and chemicals group, for around 3 billion sterling (US$4.8 billion). By acquiring the Castrol brand, BP Amoco gains a major ...

BP Amoco PLC, the Anglo-U.S. petroleum producer, has agreed to acquire Burmah Castrol PLC, the UK independent lubricants and chemicals group, for around 3 billion sterling (US$4.8 billion). By acquiring the Castrol brand, BP Amoco gains a major international name in lubricants, which it currently lacks. It will merge the lubricants businesses of both groups into a single entity under the Castrol brand, selling its products through its 28,000 retail sites and to automotive, industrial, and marine customers around the world. The new division will be headed by BP Amoco's David Baldry. Burmah's specialty chemicals business is likely to be sold. Also announced Tuesday, Pittsburgh-based Alcoa Inc., the world's largest aluminum company, said it has agreed to buy Salt Lake City-based Cordant Technologies Inc., a diversified maker of castings for aircraft turbine engines, for $2.9 billion. The combined company will have annual sales of $18.8 billion and nearly 125,000 employees.

Popular Sponsored Recommendations

Electric Vehicles Spark New Opportunities in the Automotive Industry

Dec. 4, 2023
Automakers have increased plans to produce Electric Vehicles to meet customer demand for low emissions. With this radical shift, new opportunities and challenges for the auto ...

What Does Agility Look Like for Today's Auto Industry?

Dec. 4, 2023
Without modern technologies, enterprises aren't able to fully analyze the risks and respond to ongoing supply chain issues and semiconductor shortages.

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Modern Edge Computing Accelerates Smart Manufacturing Initiatives for Discrete Manufacturers

Oct. 22, 2023
Discover how Edge Computing platforms are a requisite for discrete manufacturers to solve production challenges, accelerate digitalization, and establish a reliable infrastructure...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!