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DANA Group Dubai Acquires Apex Lubricants and Enters Base Oil Trading - Dana Group Dubai Acquires Apex Lubricants and enters Base oil trading, automotive lubricants blending and caters to Africa, CIS countries and South Asia expanding Dana Group's lubricant, grease and base oil business
DANA Group Dubai Acquires Apex Lubricants and Enters Base Oil Trading

 

PRZOOM - /newswire/ - Dubai, UAE, United Arab Emirates, 2015/02/24 - Dana Group Dubai Acquires Apex Lubricants and enters Base oil trading, automotive lubricants blending and caters to Africa, CIS countries and South Asia expanding Dana Group's lubricant, grease and base oil business.

   
 
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Last year Dana Group had acquired Apex Lubricants, based in Al Jurf 2, Ajman for an undisclosed amount to form Dana Lubricants Factory LLC. The acquisition involved the transfer of all assets, including land, manpower, machinery, order books and goodwill from Apex Lubricants to Dana Lubricants Factory LLC. 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 (danagroups.com) 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, Uganda 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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Agency / Source: DANA Group

 
 

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DANA Group Dubai Acquires Apex Lubricants and Enters Base Oil Trading

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Contact: DanaGroups.com 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any DANA Group securities in any jurisdiction including any other companies listed or named in this release.

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