Argentina’s YPF sells lubricants subsidiary in Brazil
YPF’s manufacturers in Brazil will stay below the brand new proprietor
Argentina’s State-owned oil firm YPF agreed this week to promote its stake in its Brazilian lubricants subsidiary to the native Usiquimica to attain “better focus and profitability” in its operations, it was reported in Buenos Aires. The client has been producing and buying and selling chemical merchandise for 80 years.
YPF additionally mentioned in a press release that the transfer was envisioned inside the so-called 4×4 Plan launched earlier this 12 months to evaluation the corporate’s lively administration. Established in 1998,
YPF Brazil has had a lubricants plant since 2015 with a manufacturing capability of 48,000 cubic meters per 12 months and a home market share of practically 2%.
The brand new gross sales settlement consists of the phrases and situations for a license settlement for using YPF’s lubricant manufacturers. Therefore, the Argentine firm’s merchandise in Brazil are there to remain, it was additionally defined. This resolution is a part of the continuing technique of reviewing the portfolio, with the purpose of reaching better focus and profitability, the communiqué additionally talked about.
Alternatively, YPF’s Board of Administrators created a brand new Vice-Presidency to deal with creating a strategic plan for the subsequent decade to strengthen its place within the area of latest energies, as a consequence of which YPF Luz, Mega, and Profertil will play a basic function sooner or later power transition.
This resolution reaffirms YPF’s dedication to the optimization of its enterprise construction and the era of sustainable worth within the context of fixed transformation of the power sector, the doc additionally identified.
