Old World Industries Exits the Oil and Lube Business in the US Market
Old World Industries notified customers on September 1, 2022 that it is exiting the oil and lubricant business in the US market, effective immediately. This includes PCMO, HDMO, brake fluid, power steering fluid, grease, tractor hydraulic fluid, small engine fluids, and transmission fluid. The company will, however, continue to fill orders until inventory is depleted.
While Old World is exiting the oil and lubricants business, the company advised its customers that it will continue to focus its efforts on providing superior service on DEF, Anti-Freeze and its Visibility and Safety categories, including windshield wipers, automotive lighting, and washer fluids to satisfy customer needs.
Customers were notified that the decision to exit was made after a lengthy review of the business and the challenges the macro environment have presented over the past 18 months. From this review, it was concluded that the company was not in a position to remain competitive and at the same time, service Old World Industries’ customers to its standards.