ExxonMobil completes acquiring Indonesian lubricant manufacturer

ExxonMobil completes acquiring Indonesian lubricant manufacturer

11:19 AM, 29th June 2018
ExxonMobil logo

IRVING, US: ExxonMobil has completed the acquisition of PT Federal Karyatama (FKT), one of Indonesia’s largest manufacturers and marketers of motorcycle lubricants, from PT Mitra Pinasthika Mustika Tbk and its affiliate.

The acquisition, first announced in April, includes the Federal Oil brand and a 700,000 barrel per year blending plant in Cilegon, Indonesia.

The acquisition of FKT and its distribution network, which is supported by about 40 dealers, 3,200 Federal Oil centers and more than 10,000 retailers in Indonesia, strengthens ExxonMobil’s position in a key growth market and will contribute to building the Mobil lubricant brand in Indonesia.

ExxonMobil will manage both the existing Indonesian Mobil-branded lubricants business and the FKT business.

“Indonesia is one of the fastest growing lubricants markets in Asia. Federal Oil’s expertise in motorcycle lubricants complements the Mobil lubricants offer in other sectors where ExxonMobil has significant experience, which will help us continue to grow and better serve our customers in Indonesia,” said Russ Green, vice president of ExxonMobil Finished Lubricants.

“Federal Oil is a quality brand with a long history in Indonesia. The knowledge and experience of FKT employees and distributors will play a key role in achieving our lubricants business’ objectives in the region,” said Louise McKenzie, president of ExxonMobil Indonesia.

© Worldofchemicals News

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