EPPCO Lubricants, a joint venture between ENOC Group and Chevron Al Khaleej, has signed a three-year memorandum of understanding (MoU) with Al-Futtaim Auto and Machinery Company (FAMCO), the largest construction and commercial vehicle distributor in the GCC owned by Al-Futtaim Group.
The MoU was signed within the framework of a first of its kind agreement to exclusively supply lubricants, coolants, and greases for FAMCO’s UAE operations, according to a press release.
Upon the MoU, EPPCO Lubricants will supply around 22,500 barrels or 3.577 million litres of the products over the coming three years.
Moreover, the alliance will work on exploring mutual areas of interest and future opportunities, the release revealed.
Saif Humaid Al Falasi, CEO of ENOC said: “The growth of the manufacturing sector is resulting in a rise in demand within the automotive, industrial and marine lubricant markets. Our strategic partnership with FAMCO will contribute to meet current market requirements.”
The partnership between the two companies is one of the most strategic accounts for ENOC Group in the last 15 years.