Saneg, the largest private oil and gas company in Uzbekistan, announced the acquisition of CGC Lubricants Italy S.P.A, an Italian manufacturer of high quality automotive and industrial oils and lubricants. With this acquisition, Saneg significantly expands its presence in the European market and strengthens its position as a technology leader in the lubricants industry.
In addition, SK Lubricants Italy has entered into a strategic cooperation agreement with SEGA Mortal, 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.
The acquisition of the Italian company brings together two recognized players in the lubricants industry. SK Lubricants Italy has a modern manufacturing plant in Bari, employing 19 qualified specialists, as well as a commercial office in Rome with 11 employees.
Bakhtiyor Fazylov, Chairman of the Board of Saneg, said:
"The acquisition is an important milestone in Saneg's current business expansion strategy. The synergy of the two companies will not only expand Saneg's presence in the European market, but also strengthen its position as a technological leader in the lubricants industry in Uzbekistan and Central Asia. This corresponds to the company's desire to provide the necessary high-quality product to the country's consumers, thereby contributing to import substitution".
Saneg CEO Tulkin Yusupov said:
"The company's Bari plant has an accredited R&D laboratory that is constantly innovating and developing a wide range of new lubricants. This experience will be applied at Saneg's Fergana Oil Refinery Plant. Advanced technologies and know-how of SANEG OIL ITALY S.P.A. will allow to increase the production of lubricants in Uzbekistan".
The company's production processes are highly automated, which ensures the efficiency and stability of production of more than 200 types of lubricants.
Saneg will also gain a significant share in the Italian and European lubricants market due to access to an extensive distribution network in Italy, France, Spain and Portugal, where up to 26 thousand tons of products are supplied annually, in turn, CGC Lubricants Italy will act as a strategic supplier of high-tech products for Fergana Oil Refinery Plant, thereby ensuring uninterrupted supplies to the Uzbekistan’s market and beyond it.
This acquisition involves the development of cooperation in the scientific, technological and commercial fields. The key parameters of the agreement include the exchange of experience in the field of formulations and technologies, as well as obtaining European safety certificates for base oils produced by Fergana Oil Refinery Plant.
Press-service of “Fergana Oil Refinery Plant LLC”
