Total acquires all the assets of Tribospec

Total, the world’s fourth largest petroleum company, has bought the assets of Tribospec Corporation, an independent Canadian producer and distributor of lubricants. It is based in LaSalle (on Lafleur Avenue, former site of Seagram) and sells 10,000 tons of lubricants annually. It annual production output is 35,000 tons.

Tribospec’s sales represent about 8% of the lubricant market in Quebec. A new company called Total Lubrifiants Canada is 70% owned by Total and 30% owned by the majority shareholder of Tribospec, and was established as a result of the acquisition. This acquisition strengthens the Total Group’s position in Canada’s lubricant industry.

In 2000, Tribospec invested $5 million for the construction of its new facilities on Lafleur Avenue. The company’s administrative offices are already set up in LaSalle, and the company has now consolidated its production unit and head office on Lafleur Avenue. Over the years, Tribospec has earned a place in Canada’s top 50 privately managed companies. Its site occupies 230,000 square feet; its building occupies 61,000 square feet.