ExxonMobil completes acquisition of Indonesian PT Federal Karyatama

ExxonMobil completes acquisition of Indonesian PT Federal Karyatama

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.

“Indonesia is one of the fastest growing lubricants markets in Asia,” said Russ Green, vice president of ExxonMobil Finished Lubricants. “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.”

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

Subsidiaries of ExxonMobil and its predecessors have operated in Indonesia for more than 120 years, and have invested more than $23 billion in the country since 1979. Ninety-seven percent of ExxonMobil’s more than 800 employees, which now include FKT employees, are Indonesian.

2.7.2018 13:44:00
7785

Worldwide - Last Added

Global Lubricant Week will be held online on 20-21 October

Global Lubricant Week will be held online on 20-21 October

Each year the most influential players and decision makers of the international lubricant industry meet at the “Global Lubricant Week” (Moscow). We invite you to join ...

30.9.2021 16:23:00
93
Lukoil and Daimler AG strengthen global partnership

Lukoil and Daimler AG strengthen global partnership

Lukoil Group and Daimler AG, one of the world's largest car manufacturers, expand their partnership in Lukoil lubricants first fill supplies for engines of the brand's premium ...

14.9.2021 13:47:00
175
Petronas Lubricants International announces partnership with Treedom

Petronas Lubricants International announces partnership with Treedom

The EMEA business region of PETRONAS Lubricants International (PLI), a leading lubricants manufacturer, today announces a new partnership with Treedom; the first web-based ...

28.7.2021 12:09:00
560
The Duckhams brand was launched in the UAE

The Duckhams brand was launched in the UAE

The Duckhams brand was launched in the celebrated city of Dubai today. Emirates for Universal Tyres LLC, part of Abdulla Al Masaood & Sons Group, appointed as Exclusive ...

23.7.2021 14:16:00
311
SK Lubricants to use recycled containers for all best-selling products

SK Lubricants to use recycled containers for all best-selling products

As a part of its practical ESG management efforts to fulfill the financial story, SK Lubricants announced on the 21st that the company decided to expand the use of ...

22.7.2021 14:07:00
173
Fuchs extends its carbon neutrality scope

Fuchs extends its carbon neutrality scope

With global operations in the lubricants sector, the FUCHS Group has already been operating on a carbon-neutral basis at all manufacturing subsidiaries since 2020. For 2021, all ...

19.7.2021 17:08:00
207
Valvoline launches All-Terrain heavy duty diesel engine oil

Valvoline launches All-Terrain heavy duty diesel engine oil

Valvoline Inc. announced the launch of ValvolineTM All-Terrain, a new engine oil specially formulated for off-highway, heavy-duty diesel engines operating in severe ...

16.7.2021 11:24:00
274
Total Specialties USA and Mighty Distributing System enter new partnership

Total Specialties USA and Mighty Distributing System enter new partnership

Total Specialties USA announced a new partnership with auto parts wholesaler, Mighty Distributing System (Mighty Auto Parts), a leader in automotive aftermarket products ...

9.7.2021 17:14:00
233
Total is transforming and becoming TotalEnergies

Total is transforming and becoming TotalEnergies

At the Ordinary and Extraordinary Shareholders’ Meeting, shareholders approved today, almost unanimously, the resolution to change the company’s name from Total to ...

4.6.2021 14:07:00
465
Lubricant Expo to take place on 6-8 September 2022 at Messe Essen Germany

Lubricant Expo to take place on 6-8 September 2022 at Messe Essen Germany

The inaugural Lubricant Expo will now take place on the 6 – 8 September 2022. In response to unprecedented interest from the industry and key customer groups, Lubricant ...

21.5.2021 13:09:00
375