FL Selenia acquisition to boost Petronas lube business

Petroliam Nasional Bhd’s (Petronas) 1 billion (US$1.4 billion) acquisition of FL Selenia SpA will help Malaysia’s national oil company realize the global aspirations of its lubricant business. “FL Selenia’s expertise and geographic focus is complementary with Petronas’ existing lubricant business, which includes manufacturing, marketing and distribution of high-end lubricants in Malaysia and a host of other countries,” it said in a statement. FL Selenia’s product range includes lubricants, transmission, anti-freeze and functional fluids for motor vehicles, trucks, agricultural tractors and earth-moving machinery as well as for other industrial equipment. FL Selenia’s products are mainly positioned in the high value-added segment, with the majority of its sales arising from innovative semi-synthetic and synthetic lubricants. FL Selenia’s research and development (R&D) and testing facilities are among the largest in Europe. (September 22, 2007)