Indonesias state-owned Pertamina Lubricants has acquired 75 percent of Thai blender Amaco Production Co., an Amaco official told Lube Report Asia.
The official said the transaction was completed last month, but he declined to disclose other details. Pertamina failed to comment by the close of business yesterday.
Based on previous statements, Pertamina is expected to use this acquisition to accelerate its expansion in Thailand and neighboring countries such as Myanmar and Cambodia since Amaco already has distributors there.
According to Pertaminas website, overseas markets account for more than 25 percent of its lubricant sales volume and have helped make it one of the 15 biggest lubricant players in the world. Pertamina has three lube oil blending plants in Indonesia with a combined capacity of 515,000 metric tons per year.
Amaco produces 12,000 t/y of automotive and industrial lubes that are marketed under its Amaco brand. The company supplies20 percent of its products to thedomestic market while 80 percent are exported to Australia, Brunei, Bangladesh, China, Cambodia, Kuwait, Malaysia, Myanmar, Singapore and Vietnam. Amacos blending plant has production capacity of 45,000 t/y, a 1,250-ton base oil tank farm, and 14 blending tanks with a total capacity of 225 tons.