Indonesia: Lubricants Exxon Mobil Completes Takeover of FKT
The acquired company is one of Indonesia’s largest manufacturers of motorcycle lubricants and the deal will enable Exxon Mobil to strengthen its position in the region.
Texas/USA – Exxon Mobil has recently completed the acquisition of PT Federal Karyatama (FKT), one of Indonesia’s largest manufacturers and marketers of motorcycle lubricants, from PT Mitra Pinasthika Mustika Tbk and its affiliate. The acquisition, first announced in April, includes the Federal Oil brand and a 700,000 barrel per year blending plant in Cilegon, Indonesia.
The acquisition of FKT and its distribution network, which is supported by about 40 dealers, 3,200 Federal Oil centers and more than 10,000 retailers in Indonesia, strengthens Exxon Mobil’s position in a key growth market and will contribute to building the Mobil lubricant brand in Indonesia.
Exxon Mobil will manage both the existing Indonesian Mobil-branded lubricants business and the FKT business. Subsidiaries of Exxon Mobil and its predecessors have operated in Indonesia for more than 120 years, and have invested more than 23 billion dollars in the country since 1979.