Sanoat Energetika Guruhi (Saneg), Uzbekistan’s largest privately-held oil and gas company, announced the acquisition of CGC Lubricants Italy, an Italian producer of automotive and industrial oils and lubricants. The acquisition marks a significant step forward in Saneg’s expansion into the European market and strengthens its position as a technological leader in the lubricants industry, the company said.
The acquisition will enhance SANEG’s ability to supply high-tech lubricants to the Uzbek and European markets.
In addition, CGC Lubricants Italy has finalized a strategic cooperation agreement with SEG Motol, a Saneg subsidiary that manufactures technical oils in Uzbekistan.
CGC Lubricants Italy will serve as a strategic supplier of high-tech commercial lubricants to FNPZ, ensuring a seamless supply of essential lubricants to the Uzbek market and beyond. Within three years, Saneg said it aims to fully localize the production of CGC Lubricants Italy’s products in Uzbekistan, further strengthening its domestic manufacturing capabilities.
The acquisition also provides Saneg with a substantial share of the Italian and European lubricants market, as Saneg will gain immediate access to CGC Lubricants Italy’s extensive distribution network across Italy, France, Spain, and Portugal, where up to 26 thousand tons of products are supplied annually, according to the company.
