| BUSINESS INFORMATION |
Octel takes big sales hit Octel Corp., the world's leading producer of the gasoline additive tetraethyl lead, says a major customer has canceled its purchase orders for May and that the customer may have accelerated the phaseout of leaded gasoline in motor vehicles, possibly to as early as this year. Octel's sales to this customer were $63.6 million last year, out of total sales of $481 million. The firm is pursuing a strategy of diversifying into petroleum specialties and performance chemicals while the market for tetraethyl lead declines. |
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