SB China Venture Capital invests in lube blender

SB China Venture Capital (SBCVC) has invested 80 million yuan (US$11.8 million) in Ningbo Yongrun Petrochemical Technology Co. Ltd., a Ningbo, Zhejiang-based manufacturer of lubricating oil. According to Sun Xing, an investment director at SBCVC, the private equity firm made the decision to invest in Ningbo Yongrun Petrochemical Technology Co. because the lube blender produces environmentally friendly products. Founded in 2008, the firm which is located in the Yinzhou District will use the fund to build a new production line. (July 19, 2010)