PURAGLOBE names Alois Virag as CEO to drive global expansion
PURAGLOBE Holding GmbH, a leader in sustainable Group III/III+ base oils and synthetic motor oils from recycled sources, has announced the appointment of Dr. Alois Virag as chief executive officer (CEO). Effective immediately, Virag succeeds Andreas Schueppel, who has led the company for nearly two decades, establishing PURAGLOBE as a global leader in the re-refined lubricants industry.
Virag brings 35 years of experience in refining and petrochemicals, with a history of scaling innovative technologies and managing major operations in Europe, Asia, and the Middle East. He played a key role in OMV’s acquisition of a stake in ADNOC Refining and the development of OMV’s ReOil technology.
Peter Saldarriaga, managing director of Ara Partners, a key investor in PURAGLOBE, expressed confidence in Virag’s leadership. “Dr. Virag will bring his exceptional leadership skills to drive our global expansion into North America and Asia with strategic partners, all while ensuring we maintain our top-tier product quality and operational performance,” he said.
“His extensive experience in fostering strong business relationships and achieving significant cost savings will be invaluable as we embark on our next phase of growth.”
Virag joins PURAGLOBE from Nayara Energy, where he served as CEO, overseeing operations of a 20-million-ton-per-annum refinery and 6,500 retail outlets. Under his leadership, Nayara significantly increased profitability and integrated into petrochemicals.
“I am thrilled to join PURAGLOBE at this exciting point in the company’s history,” said Virag. “We have a unique opportunity to advance the global commercialisation of PURAGLOBE’s differentiated technologies, including HyLube, HyLube SAT, and HyRes. I look forward to working closely with our talented team to commercialise our distinct products.”
The Board of Directors expressed gratitude to Andreas Schueppel for his transformative leadership, which positioned PURAGLOBE as a pioneer in innovative technologies and a global leader in re-refined lubricants.
Schueppel commented, “Leading PURAGLOBE over the past two decades has been an honor. I am extremely proud of our accomplishments and the foundational work we’ve done to ensure PURAGLOBE’s long-term prosperity.”
PURAGLOBE is a portfolio company of Ara Partners, a global private equity firm focused on decarbonising the industrial economy, and Junction Capital Partners, which invests in industrial growth opportunities.
