Business & Money | Tuesday 21 May, 2019 10:53 am |

ENOC Group’s EPPCO Lubricants has signed a three-year MoU with Al-Futtaim Auto & Machinery Company (FAMCO), the GCC's largest construction and commercial vehicle distributor in a first-ever agreement with the Group to exclusively supply lubricants, coolants and greases for its UAE operations.

 

According to recent research, the global industrial lubricants market size is expected to reach US$68.41 billion by 2024.

 

EPPCO Lubricants will supply approximately 22,500 barrels, an equivalence of 3.577 million litres of the products over the next three years.

 

H.E. Saif Humaid Al Falasi, Group CEO of ENOC said: “The growth of the manufacturing sector is resulting in a rise in demand within the automotive, industrial and marine lubricant markets. Our strategic partnership with FAMCO will contribute to meet current market requirements.”

 

Mr. Nigel Johnson, Senior Managing Director of Al Futtaim Industry Equipment said: “We at Famco are looking forward to working together with ENOC to bring all new range of lubricants to our customers to maximize construction and commercial vehicle uptime and minimize cost of ownership.

 

The partnership between EPPCO Lubricants and FAMCO is one of the most strategic accounts for ENOC Group in the last 15 years. With this MoU, both entities will jointly explore mutual areas of interest and future opportunities.

 

EPPCO Lubricants, a joint venture between ENOC and Chevron Al Khaleej, distributes ENOC and Caltex branded lubricants and greases in the UAE, providing top quality lubricants products and services to industries ranging from automotive, industrial to manufacturing and marine.