Indonesias state-owned Pertamina Lubricants is negotiating to acquire Thai blender Amaco Production Co. Ltd. by the end of the year, an Amaco official told Lube Report Asia.
No other details were disclosed, but Pertamina has said it is trying to grow and wants to do so partly through acquisitions.
The company wants to gain entry into overseas market like China, the Australian mining industry and the Middle East, and with this acquisition, the company is expected to accelerate its expansion plans into Thailand and other parts of Southeast Asia.
The company currently controls about 60 percent of the domestic market, Pertamina Lubricants Operations Director Andria Nusa said on the companys website. We believe Pertamina Lubricants will go into the next year as the 20th largest lubricant company in the world, and we are optimistic about... infiltrating into the ranks of the top 15 in 2018, Nusa added.
Amaco Production produces its Amco brand of lubricants. At its own blending plant built in 2006, Amaco has produced more than 12,000 metric tons per year of more than 100 types of finished lubricants for the automotive and industrial sectors. The company supplies 20 percent of its products to the domestic market while 80 percent is exported to Australia, Brunei, Bangladesh, China, Cambodia, Kuwait, Malaysia, Myanmar, Singapore and Vietnam.
Amacos blending plant has production capacity of 45,000 tons per year. The plant is equipped with a base oil tank farm that has 1,250 tons of storage capacity tons, and 14 mixer blending tanks with a total capacity of 225 tons which could blend 14 products simultaneously.