Repsol signs Asian lubes deal
Spanish oil producer Repsol has signed a five-year distribution deal with Malaysia's UMW.
The contract, for 20,000 tons of car, motorcyle and industrial lubricants annually, will take Repsol into Malaysia and China and will, by the end of the contract, equate to one quarter of all Spanish lubes sales.
The alliance with the Malaysian conglomerate will also allow the Spanish lubes maker to grow into other Asian markets where UMW has a presence including Singapore, Brunei, Papua New Guinea and Myanmar.
UMW Holdings Bhd president and CEO, Datuk Syed Hisham Syed Wazir likened the new partnership to the first year of a marriage, where "each partner gets to know one another better so that we can, together, weather any challenges we may face in the future."
Published 20th December, 2010
