Shah Alam, 20 November 2013 – UMW Lubricant International Sdn Bhd (“ULI”), a wholly-owned subsidiary in the UMW Group, has entered into a new Distribution Agreement with Repsol Lubricantes Y Especialidades, S.A. (“REPSOL”) for the appointment of ULI as the exclusive distributor of REPSOL branded automotive, motorcycle and industrial lubricating oils and ancillary products, excluding marine oils. The agreement is for an initial term of ten years, commencing 1st January 2014 and expiring 31st December 2023, with options for further extensions to be agreed by ULI and REPSOL.
The said appointment includes the importation, marketing, sale, distribution, manufacturing and/or toll blending of REPSOL re branded products by ULI within the territories specified in the REPSOL Agreements. In respect of the territory of the People’s Republic of China, ULI has assigned its rights and obligations under the said Distribution Agreement to its affiliate Lubritech Limited.
UMW, with its strong presence in Asia, extensive experience in managing partners and financial stability, has found a world class brand and committed partner in REPSOL. REPSOL, on the other hand, has found the perfect strategic partner in UMW to help its market penetration into Asia as part of its international expansion plan.
REPSOL is a leading company and expert in energy and is currently present in over thirty countries throughout the world. Its business activities cover the upstream division which includes oil and natural gas exploration and production activities outside Argentina; the downstream business which is made up of supply and trading, refining, marketing, and the transport of oil and oil products, chemicals and LPG; the Liquefied Natural Gas (“LNG”) activities which include liquefaction, transport, marketing, and regasification of LNG, in addition to power generation activities in Spain not carried out by Gas Natural SDG and natural gas marketing in North America.
The UMW Group is an international conglomerate that develops industries, manages partnerships and facilitates growth. It is involved in four core businesses – Automotive, Equipment, Manufacturing & Engineering, and Oil & Gas.
Adopting its rallying call – Beyond Boundaries®, UMW is set to play a leading role in shaping the future of its industries globally. The Group will do this by inspiring vibrant ideas, nurturing potential, pioneering partnerships and delivering excellence in everything it does; the rewards of which will contribute to the progress and well-being of its stakeholders.