India's Maximus International to set up lubricant plant in East Africa

One of the biggest manufacturers and distributors of lubricants, BSE-listed Maximus International, aims to build a cutting-edge production facility in Africa to increase its capacity to 60,000 kiloliters per year from 20,000 kiloliters per year.

 
The factory is part of a $25 million investment by the corporation to develop its East African operations over the next 2-3 years, with a goal of increasing revenue by 20% CAGR.
 
Through its step-down subsidiary, Quantum Lubricants EA, MIL, which has a significant presence in Africa and West Asia, operates in Kenya and other African markets (QLL).
 
MIL's Managing Director, Deepak Raval, stated that by tripling manufacturing capacity, the firm will be better positioned to capitalise on market potential in key areas.
 
QLL established its first 20,000 klpa lube oil blending plant in Africa in 2014 and has grown its company at a 15% CAGR over the previous seven years.
 
Sensing enormous potential in the African market, the corporation intends to extend its presence in East Africa. The expansion would be carried out on a greenfield basis, with the facilities being operational over the next 2-3 years.
 
The company intends to extend and strengthen its lubricants business in Rwanda, Uganda, and Tanzania by establishing a new subsidiary or partnering with an existing distributor.
 
MIL's Chief Financial Officer, Milind Joshi, stated that the business has targeted Congo, South Sudan, Malawi, and Zambia as high-potential areas.
 
Although East and South Africa are the main emphasis, MIL is also developing plans to soon join the markets of Nigeria and Ghana in West Africa with plans to establish manufacturing facilities, he added.
 
MIL produces gear oils, high pressure grease, textile machinery oils, metal working fluids, and speciality hydraulic fluids for the industrial market. For the specialty market, it produces refrigeration compressor oils, specialist hydraulic fluids, and printing ink oils. MIL offers engine oils, gear oils, and vehicle transmission fluid for the automotive market.

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