Jan. 14 – Viscolube is an Italian company leader in Europe in oil re-refining; and it is set to export its technology to China. Today, during the Italian Forum for a new economic and trade cooperation model held in Beijing, a Memorandum of Understanding was signed between Viscolube and Baosteel Waste Oil Processing Co. The agreement lays the foundation for the realization a regeneration plant in China. Making use of its own technology, Viscolube has developed and patented a re-refining process that was sold in plants in various parts of the world. Thanks to its technological leadership, the company is able to produce base oils with equal or higher characteristics than one-time refined oils. The technology contributes substantially to the recovery and full recycling of hazardous waste, such as used lubricating oil, collected in Italy at the micro-level and managed by the entire industrial chain according to well-defined environmental standards. Baosteel Waste Oil Processing Co. deals with environmental technologies for the Baosteel Group (world leader in the steel industry), and already has a small plant for the re-refining waste oils produced by the parent company. Thanks to the agreement, Baosteel plans to create a new facility in partnership with Viscolube in Shanghai.
