Malaysia-based UMW Holdings Bhd has signed a ten year agreement as the exclusive distributor for Spain-based Repsol's branded lubricants (excluding marine oils) in selected territories in Asia. UMW said its agreement with Repsol starts on January 1, 2014 and expires on December 31, 2023.
The ten year agreement will see UMW importing, marketing, selling, distributing, manufacturing and/or toll blending Repsol rebranded products within the territories. In China, UMW Lubricant International has assigned its rights and obligations to its affiliate Lubritech.
According to the companies, both partners have likened the deal to a ‘marriage’ where Repsol has found the perfect strategic partner in UMW to help its market penetration into Asia as part of its international expansion plan. UMW, on the other hand, with its strong presence in Asia, extensive experience in managing partners and financial stability, has found a world class brand and committed partner in Repsol.
