The agreement to acquire the Italian company CGC Lubricants Italy will allow to obtain European safety certificates for base oils produced by the Federal Refinery and expand our presence in the European market.
The largest private oil and gas company Saneg announced the acquisition of the Italian manufacturer of high-quality automotive and industrial oils and lubricants CGC Lubricants Italy S.P.A.
In addition, CGC Lubricants Italy has entered into a strategic cooperation agreement with SEG Motol, a subsidiary of Saneg, which is a leading manufacturer of technical oils in Uzbekistan. As a result of the transaction, CGC Lubricants Italy was renamed SANEG OIL ITALY S.P.A.
Key parameters of the agreement also include the exchange of experience in the field of formulations and technologies, as well as the receipt of European safety certificates for base oils produced by the Federal Refinery.
“The acquisition is an important milestone in Saneg's ongoing business expansion strategy. The synergy between the two companies will not only expand Saneg's presence in the European market, but also strengthen its position as a technology leader in the lubricants industry in Uzbekistan and Central Asia. This corresponds to the company’s desire to provide the country’s consumers with the necessary quality products, thereby contributing to import substitution,” said Bakhtiyor Fozilov, Chairman of the Board of Saneg.
It is noted that CGC Lubricants Italy has a modern production plant in Bari, which employs 19 qualified specialists, as well as a commercial office in Rome with 11 employees.
“The company's Bari plant has an accredited research and development laboratory that is constantly innovating and developing a wide range of new lubricants. This experience will be applied at the Fergana Saneg oil refinery. Advanced technologies and know-how of SANEG OIL ITALY S.P.A. will allow increasing the production of lubricants in Uzbekistan,” said Tulkin Yusupov, GM of Saneg.
Highly automated production processes ensure efficient and consistent production of more than 200 types of lubricants.
Saneg will also gain a significant share of the Italian and European lubricants markets thanks to access to an extensive distribution network in Italy, France, Spain and Portugal, where up to 26 thousand tons of products are supplied annually.
CGC Lubricants Italy, in turn, will act as a strategic supplier of high-tech products for the Federal Refinery, thereby ensuring uninterrupted supplies to the market of Uzbekistan and beyond.
