Pertamina Lubricants plan to acquire firm in China, other countries

By Cepi Setiadi

PT Pertamina Lubricants, a subsidiary of state-owned oil and gas firm PT Pertamina, is currently in the process of looking to acquire a Chinese company as part of expansion strategy to help increase sales in the global market.

?We have started talks with the Chinese firm,? said Director of Marketing and Sales Andria Nusa on Friday, but did not disclose the identity of the firm.

He said that the company was also looking into the possibility of making acquisition in other countries including Malaysia and South Africa as Pertamina Lubricants aims to be in the top 15 global players, from the current 20th position.

He said that the acquisition plans are still being reviewed, and that if everything goes well, it may be completed in 2018.

Pertamina Lubricants late last year acquired 74 percent stake in Thai-based Amaco Production Co Ltd, which has since changed name into Pertamina Lubricants Thailand Co Ltd. Andria said that sales from the new subsidiary is projected to jump to 12 million liters in 2019 from 4 million liters last year by exporting products to consumers in Southeast Asian region.

This year, Pertamina Lubricants has set a sales volume target of 475 million liters, up from 450 million liters last year.

Editing by Reiner Simanjuntak