Dana Group Acquires Apex Lubricants Factory LLC to Foray into Oil & Lubes Sector
Last year in 2013 Dana Group had initiated talks and acquired some stakes in Apex Lubricants Factory LLC based in Al Jurf Ajman.The factory has most modern equipment for storage and blending of high quality lubricants and greases and has been operational since 2005 with a well known reputation in the market. By October 2014,looking to the prospects of the business DANA group took over 100% stakes in Apex lubricants factory LLC with complete transfer fo ownership,assets,plant and machinery and goodwill for an undisclosed sum. The venture is now highly successful as Dana Group is now trading high volumes of Base Oil for South Asia, Africa and the GCC Region and also manufacturing and blending all automotive lubricants.
“The decision to acquire Apex Lubricants was mainly driven out of the demand we saw from India, where we already have big operations in other sectors. Based out of the UAE, it made perfect sense for us to cash in on this opportunity. We had known Apex Lubricants owners for long, so we knew it would be a smooth transition in terms of change management” Dr Dana Chairman, Dana Group said. He further added, “I think we entered this industry at the right opportune moment as oil has practically reached its bottom and we are booking base oil for a lot of big importers based out of India, Pakistan, Bangladesh, Africa and we are also supply Base oil locally to the Middle East and GCC region”.
Currently Dana Group is trading Base oil (SN500 and SN150) as well as manufacturing all sorts of automotive lubricants for the African, CIS region and Asian subcontinent. Dana Group has a Base oil storage facility of 5000MT in Hamiryah Free Zone and a production capacity of 500MT/day for all kinds of automotive lubricants. Dana Lubricants Factory marketing Team is currently on a trip to Africa, where they will participate in local Lube exhibitions and visit important clients in Congo, Mali, Ghana, Kenya, Tanzania and Ethiopia. Dana Lubricants Factory now has distributors in some of these regions, but Dana Group is also looking forward to have its own presence in some of the key countries by Q2 2015. Ankur Singh, Marketing Manager for Dana Group said “We envision Ethiopia, Ghana and Congo as the key places in Africa where we see tremendous growth in terms of the economy and at the same time safe and conducive environment for foreign investments, so we are in final negotiation with the authorities to set up our own base in Ethiopia and Congo by Q2 2015.”
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