ExxonMobil completed the acquisition of PT Federal Karyatama

ExxonMobil has declared on its website that it has completed the acquisition of PT Federal Karyatama, one of Indonesia’s largest manufacturers and marketers of motorcycle lubricants, from PT Mitra Pinasthika Mustika Tbk. and its affiliate. The acquisition, first announced in April, includes the Federal Oil brand and a 700,000 barrel per year blending plant in Cilegon, Indonesia.
The acquisition of FKT and its distribution network, which is supported by about 40 dealers, 3,200 Federal Oil centers and more than 10,000 retailers in Indonesia, is believed to strengthen ExxonMobil’s position in a key growth market and will contribute to building the Mobil lubricant brand in Indonesia.
ExxonMobil also stated that it will manage both the existing Indonesian Mobil-branded lubricants business and the FKT business.