People and Places Q1 2025
Rio Tinto Completes Acquisition of Arcadium Lithium
LONDON–(BUSINESS WIRE)– Rio Tinto has completed its acquisition of Arcadium Lithium plc (“Arcadium Lithium”) (NYSE: ALTM) (ASX: LTM) for $6.7 billion, following the sanctioning of the Scheme of Arrangement by the Royal Court of Jersey on 5 March. Rio Tinto is now the ultimate parent company of Arcadium Lithium, which will become Rio Tinto Lithium, and will also include the Rincon lithium project.
The acquisition establishes Rio Tinto as a global leader in the supply of energy transition materials and as a major lithium producer, with one of the world’s largest lithium resource bases. Rio Tinto Lithium aims to grow the capacity of its Tier 1 assets to over 200 thousand tonnes per year of lithium carbonate equivalent (LCE) by 2028. Complementary technologies and geographies offer compelling value driven by accelerating volume growth in a rising market, projecting significantly higher EBITDA and operating cash flow in the coming years.
Announcement – President AXEL US
AXEL US has appointed Geoffrey (Geof) Colpitts as Interim President for Axel Americas and Axel Royal, effective February 1, 2025. Colpitts, who joined AXEL US in early 2024 as a consultant from The Persimmon Group, brings extensive leadership experience from both the private sector and U.S. government service, including a 30-year career in the U.S. Navy. He succeeds Catarina Rockstrand, who returns to her role as Group CFO for the AXEL Group, and Fredrik Ahlström, who resumes his position as Group Purchasing Manager.
Dr. Raj Shah, Director at Koehler Instrument Company, receives The AOCS Fellow Award.
Dr. Raj Shah, Director at Koehler Instrument Company in Holtsville, NY was recently felicitated in Montreal as a Fellow of the American Oil chemist society at their 2024 annual meeting. AOCS mission is to advance the science and technology of oils, fats, proteins, surfactants and related materials, thus enriching the lives of people everywhere. The AOCS Fellow Award recognizes achievements in science and those who have made exceptional achievements in their field and their profession, including areas of research, industrial achievement, leadership and education. It is one of the highest and most prestigious AOCS awards and Dr. Shah was awarded the Fellow medal and plaque at the annual meeting recently in Montreal. Dr. Shah was unable to attend the conference but in prepared remarks he expressed deep gratitude to everyone at his company, especially the company management, his colleagues and industry mentors who he said have helped him so far on his journey. He singled our Dr. Sevim Erhan who has been a mentor to him for over 30 years and he said he was honored to know here and also thanked her for accepting the award at the meeting on his behalf.
Peter Lagerlöf Appointed CEO of AXEL Group
AXEL Christiernsson International AB has appointed Peter Lagerlöf as the new CEO of the AXEL Group, effective immediately. Lagerlöf brings extensive experience as a business leader, including his recent role as CEO of Centriair and over 15 years in global leadership positions at Emerson in both Sweden and the USA. He holds a Master of Science in Engineering Physics from Chalmers University of Technology in Gothenburg, Sweden. Lagerlöf succeeds Johan Stureson, who will retire later this year after nearly 25 years as CEO. Under Stureson’s leadership, AXEL expanded from two European plants to six facilities across Europe and the USA, achieving robust financial performance and high customer satisfaction. Stureson will continue as a senior advisor to the company and its shareholders.
ESPR: What It Means for the Lubricant Industry
The European Union’s Ecodesign for Sustainable Products Regulation (ESPR), enacted on July 18, 2024, extends stringent sustainability criteria to nearly all physical products, including lubricants. This regulation emphasizes product durability, repairability, recyclability, and energy efficiency, while aiming to phase out hazardous substances. It also introduces digital product passports to enhance transparency and traceability. However, challenges arise as bio-based lubricants, promoted under ESPR, are difficult to recycle, potentially conflicting with the regulation’s focus on product longevity. Additionally, many engine oils made with recycled base oils lack official Original Equipment Manufacturer (OEM) endorsements, raising concerns about performance and market acceptance. Global manufacturers exporting to the EU must adapt to these new standards to avoid restricted market access and increased compliance costs.
