LUKOIL has acquired OMV lubricants business in Europe
LUKOIL Group and OMV Refining & Marketing GmbH has signed an agreement – according to the document, LUKOIL’s subsidiary LLK-International (a wholly-owned by LUKOIL) acquired a lubricants business, including OMV blending plant in Austria with 35 ktpa capacity as well as sales and distribution organizations in Central and Western Europe .
Popularity and trust to lubricants produced by the leading European producer, will expand significantly the range of LUKOIL products and will strengthen positions of LUKOIL lubricants in the foreign markets, and will give new opportunities for the sales of LUKOIL premium lubricants portfolio in all countries of presence.
«The transaction lies completely within the bounds of the company’s strategy that presupposes further lubricants business development to the European markets. Favorable geographical position in relation to the foreign OEMs and enterprises, the developed distribution system in the Europe, modern industrial capacities, unique scientific know-hows and extensive professional experience of the employees—are most significant factors that swayed our decision», -- LUKOIL’s President Vagit Alekperov said.
OMV lubricants business acquisition will promote to achieve synergetic effect with LLK-International plants in Romania and Finland. The transaction will optimize lubricants supply to the foreign partners, enhance LUKOIL’s scientific and technical opportunities in new formulations development area, and provide with its sales growth.