TASHKENT, Uzbekistan, February 14. Uzbekistan's Saneg (the largest private oil and gas company) announced the acquisition of CGC Lubricants Italy S.P.A, an Italian manufacturer of high quality automotive and industrial oils and lubricants, Trend reports.
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, CGC Lubricants Italy has entered into a strategic cooperation agreement with SEG Motol (a subsidiary of Saneg) which is a leading producer 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. CGC Lubricants Italy has a modern production plant in Bari, employing 19 skilled professionals, and a commercial office in Rome with 11 employees.
"The acquisition is an important milestone in Saneg's ongoing business expansion strategy. The synergy of the two companies will not only expand Saneg's presence in the European market, but will also strengthen its position as a technology leader in the lubricants industry in Uzbekistan and Central Asia. This is in line with the company's commitment to providing the necessary quality products to the country's consumers, thereby contributing to import substitution," Saneg Chairman of the Board Bakhtiyor Fazilov said.
"The company's Bari plant has an accredited research and development laboratory that is constantly innovating and developing a wide range of new lubricants. This experience will be applied at Saneg's Fergana Oil Refinery (FOR). Advanced technologies and know-how of SANEG OIL ITALY S.P.A. will allow to increase production of lubricants in Uzbekistan," Saneg CEO Tulkin Yusupov said.
The company's production processes are highly automated, which ensures efficiency and stability in the production of more than 200 types of lubricants.
Saneg will also gain a significant share in the Italian and European lubricants market thanks to access to an extensive distribution network in Italy, France, Spain and Portugal, where up to 26,000 tons of products are supplied annually, while CGC Lubricants Italy will act as a strategic supplier of high-tech products for FOR, thus ensuring uninterrupted supplies to the Uzbek market and beyond.
This acquisition envisages the development of cooperation in scientific, technological and commercial spheres. Key parameters of the agreement include exchange of experience in the field of formulations and technologies, as well as obtaining European safety certificates for base oils produced by FOR.
Meanwhile, Saneg has completed the first stage of technical modernization of its oil and gas production infrastructure facilities, aimed at a significant reduction in methane emissions.
Saneg states that the decarbonization project contributes to a significant and irreversible reduction of carbon dioxide emissions by more than 83,000 tons per year, which is equivalent to the decommissioning of about 20,000 vehicles.
In addition, the project within the framework of Saneg's activities will make it possible to increase the efficiency of monitoring emissions and reduce their negative impact on the environment.
