Idemitsu market share in lubricating oils doubled to 16 million litres in seven years in the Middle East

Published November 1st, 2009 - 10:00 GMT
Demand for lubricating oil in the Middle East region has sharply increased since 2002 and Idemitsu Lube Middle East & Africa FZE’s transaction doubled to 16 million litres during the seven years from 2002 to 2008.
Idemitsu Lube inaugurated its office at the Dubai Airport Freezone at an event attended by top officials of automotive companies in the UAE and other guests.
On hand to inaugurate the Dubai office were Mr. Hiroshi Seki, Executive Officer & General Manager and Mr. Shoichi Tominaga, Assistant General Manager, both from the Japan office Lubricants Department, Idemitsu Kosan Co., Ltd. and Mr. Yoshinori Nagaoka, Managing Director of Idemitsu Middle East & Africa FZE, and Mr. Nasser Al Madani, Assistant Director General of Dubai Airport Freezone.
The Idemitsu Kosan Co., Ltd. wholly owned subsidiary has chosen the Dubai Airport Freezone location to be fully accessible to air transportation in order to enhance the sale structure of lubricants in the Middle East and its neighbouring countries, including Africa. The newly established company will be targeting annual sales of 20 million litres of lubricating oils till 2012.
“Over a quarter of the century, In spite of tough circumstances, we continue to grow the lubricant business in this region due to considerable support and patronage from our customers, partners & of course suppliers, we deeply appreciate  Free Zone’s great support which has made our company a meaningful presence in this region,” said Mr. Hiroshi Seki.
“Idemitsu was founded in 1911 and since its foundation our fundamental principle which is ‘Respect for human beings’ has remained steadfast. Idemitsu`s business practices have their core values centered around the development of fellow human beings and the society at large.”
He added that in line with this concept, Idemitsu considers employee to be a member of a big family, thus consolidating all employees into this big family in order to provide the best quality of service and goods.
Mr. Seki said Idemitsu is striving hard to be a truly global supplier, “In this global network, knowing that Middle East is one of the growing markets, we have established Idemitsu Lube Middle East & Africa so as to respond to the customer needs quickly. We thank Dubai Government and the Dubai Airport Freezone for their great support to establish this company.”
Nasser Al Madani, Assistant Director General of Dubai Airport Freezone said:“We are proud and delighted to have Idemitsu Lube on board adding weight and value to list of multinational companies at the Dubai Airport Freezone that now exceeds 1450.”
“Idemitsu lubricants shall remain one of the top clients who would enjoy our utmost assistance, care and full support to enable the company to achieve their business goals and pursue their strategic objectives.”
Ganesan Mahadevan, idemitsu General Manager for Marketing and Sales said: “ The purpose of  the new company is to extend support and develop the genuine oil business with Japanese auto Distributors  which will eventually benefit the quality of vehicles and long life of engines to customers.
 “Investing in Dubai at this time shows the confidence of multinational companies in Dubai as their regional hub for the Middle East and Africa region.”
 Idemitsu is a leading oil company in Japan having wide range of business which includes mining, oil exploration, oil transportation and fuel stations, service stations, refineries and advanced electronics development.

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