Idemitsu Kosan Co., Ltd., (Head Office: Chiyoda-ku, Tokyo, President: Kazuhisa Nakano; "Idemitsu" or the "Company") is pleased to announce the establishment on November 12, 2009 of Idemitsu Lube South America Ltda., in San Paulo, Brazil. Operations will be launched on January 1, 2010.
Brazil, the core city of South America region, was placed 4th in the world for its motorbike production of 1.7 million units in FY2007 and 6th for its automobile production of 3.2 million units in FY2008. Additionally, a U.S. dollar-based annual growth rate of 5.6% - 16.4% is projected for gross domestic production for the period from 2010 to 2014. At present, the demand in Brazil for lubricants is 1.4 million KL, approximately 70% of that in Japan. Taking into account future economic growth, the Company predicts a significant growth in demand for high-performance lubricants centered on automobile and industrial products with environmental performance.
So far, the Company has been responding to the demand for lubricants in South America region by exporting lubricants from Japan and the United States and outsourcing production to Ipiranga Produtos Petroleo SA*1, Total Lubrificantes do Brasil Ltda*2 and Total Especialidades Argentina SA*3, while Idemitsu Lubricants America Corporation, an affiliated company of Idemitsu, has provided customers with sales and technical support from the United States.
In the future, Idemitsu Lube South America will strive to construct the local sales structure and enhance customer services while maintaining the relationship with current outsourcee companies and will reinforce sales not only in Brazil, but also in South American countries such as Argentina, Peru and Chile with the aim of achieving sales of 2.1 billion yen in 2015.
*1 Ipiranga Produtos Petroleo SA
Location: Rio de Janeiro, Brazil
President: Leocadio de Alemida Antunes Filho
*2 Total Lubrificantes do Brasil Ltda.
Location: San Paulo, Brazil
President: Patrick Cazaban
*3 Total Especialidades Argentina S.A.
Location: Buenos Aires, Argentina
President: Didier Gilles
| Company Name |
Idemitsu Lube South America Ltda. |
| Location |
San Paulo, Brazil |
| Date of Establishment |
November 12, 2009 |
| Capital |
2.55 million real (Scheduled, approximately 130 million yen) |
| Capitalization ratio |
Idemitsu Kosan: 99%, Idemitsu Lubricant America: 1% |
| Representative |
President (To be decided) |
| Product line |
Fuel-efficient high-performance automotive engine oil, ATF, refrigerator oil, high-performance environmentally-friendly industrial lubricants and related products |
| Number of Employees |
10 (3 dispatched from Idemitsu Kosan) |
For inquiries regarding this press release, please contact
Ms. Iinuma
PR Section IR&PR Office
Idemitsu Kosan, Co., Ltd.
Tel: +81-3-3213-3115
