Repsol buys 40% of Bardahl

The Spanish Repsol signed an association agreement ( joint venture ) with the Mexican lubricants company Bardahl with which European society has acquired 40% one hundred percent of American society.

In a statement, the Spanish company stated that is the largest operation carried out by Repsol worldwide in its lubricants business, the largest of the company.

Under the agreement, Repsol will manufacture and market its lubricants in Mexico through Bardahl, with the same standards of safety and quality as in Europe.

The operation, which will involve the creation of a joint venture Bardahl-Repsol is expected to be completed in the third quarter of the year subject to receipt the necessary regulatory approvals.

"The alliance with Bardahl is part of Repsol's lubricant growth plan, with which the company will double the sales volume of this business up to 300 thousand tons in 2021 a 70% a hundred of them coming from the international field, "said the company.

To achieve this goal, it will invest up to 80 million euros in equity investments in lubricant plants, particularly in Latin America and Asia, in countries such as China, China Indonesia and India.