"Sanoat Energetika Guruhi" (Saneg), Uzbekistan's largest privately-held oil and gas company, has announced the acquisition of CGC Lubricants Italy, a prominent producer of automotive and industrial oils and lubricants based in Italy.
Strengthening Market Position and Technological Expertise
The acquisition of CGC Lubricants Italy represents a strategic step for Saneg, providing access to advanced technologies and expertise in lubricant production. Through this acquisition, Saneg aims to enhance its capability to supply high-quality lubricants to both Uzbek and European markets, further solidifying its foothold in the global lubricants industry.
Bakhtiyor Fazilov, Chairman of the Management Board of Saneg, emphasized the strategic significance of the acquisition, stating, “The synergy between the two companies will not only expand Saneg’s reach into the European market but also solidify its position as a technological leader in the lubricants industry within Uzbekistan and Central Asia.”
Leveraging Expertise for Domestic Production
Saneg CEO Tulkin Yusupov highlighted the potential for integrating CGC Lubricants Italy’s advanced technologies into Saneg’s operations, particularly at the Fergana Oil Refinery (FNPZ) in Uzbekistan. CGC Lubricants Italy’s expertise in developing high-performance lubricants will enhance Saneg’s production capabilities, contributing to the company’s goal of becoming a global leader in the lubricants sector.
The strategic cooperation agreement between CGC Lubricants Italy and SEG Motol, a Saneg subsidiary, underscores the commitment to collaboration and innovation. This partnership will facilitate knowledge sharing in lubricant formulations and production technologies, furthering the development of high-tech lubricants for both domestic and international markets.
Strengthening Domestic Manufacturing and Market Presence
Saneg aims to localize the production of CGC Lubricants Italy’s products in Uzbekistan within three years, bolstering the country’s domestic manufacturing capabilities. Additionally, the acquisition provides Saneg with access to CGC Lubricants Italy’s extensive distribution network across Italy, France, Spain, and Portugal, strengthening its presence in the European lubricants market.
The collaboration between SEG Motol and CGC Lubricants Italy extends to joint marketing initiatives aimed at promoting Saneg and SEG Motol brands across Uzbekistan, Central Asia, Italy, and the European Union.
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