JSC Gazpromneft Lubricants has reviewed its 2008 performance

JSC Gazpromneft Lubricants has reviewed its 2008 performance. The company succeeded in building an effective distribution chain, which enabled it to sell over 50 thousand tonnes of packaged products and capture a 6% share of the Russian market. Growth of export sales, especially in Kazakhstan and Ukraine, was another achievement this year.

In 2009, the company is planning to introduce high-quality import-substituting lubricants for the industrial and commercial sectors.

Within the next three years, the company will invest $74 million in the upgrade of existing and construction of new production facilities. Next year JSC Gazpromneft Lubricants is planning to invest approx. $ 1.3 million in obtaining approvals from the world’s leading original equipment manufacturers.

The company’s regional distributors will play a key role in promoting new products. As part of the distribution chain development effort, a comprehensive product promotion program was created; the program includes financing for JSC Gazpromneft Lubricants’ distributors. “Despite the high risks, the company has made a decision to support its official distributors because we put emphasis on close cooperation with out partners in promoting new high-tech lubricants”, says JSC Gazpromneft Lubricants CEO Alexander Trukhan.

Throughout 2009, the company is planning to expand its network of regional partners by adding regional lubricant market leaders that meet high consumer standards.