Idemitsu targets 30% growth in global lube sales

Idemitsu Kosan Co. Ltd. is expanding lubricant production and marketing efforts in emerging economies, aiming to increase global sales to 1.1 million kiloliters in Fiscal 2012, up 30% from 2009, and to 1.3 million kiloliters in Fiscal 2015. With Japanese carmakers likely to expand their overseas output, Idemitsu anticipates growing demand for its engine oil and other lubricants in foreign markets. The oil distributor has 31 sales offices and 27 plants outside Japan, including those of subsidiaries and partner companies. To further extend its coverage, the company plans to set up within three years a sales unit in Russia, which will be supplied from a plant of its European partner. (May 6, 2010)