Al Manar partners with Nanol, aims to double market share

From the "Fuels and Lubes" newsletter:

Nanol Technologies AB, based in Stockholm, Sweden, has partnered with Egypt’s Al Manar Group, which recently started production at a new 50,000-metric-ton-per-year lubricant blending plant in the 6th of October City in Egypt.

The new lubricant blending plant is now producing automotive engine oils, gear oils, and industrial oils under the Forma brand, according to Ahmed Nawara, managing director and CEO of the Al Manar Group.

“With the launch of our new products, we plan to double our market share and export to North and East Africa,” Nawara said. The company hopes to boost its exports to 15% of overall sales in 2022, targeting in particular exports to Morocco, Tunisia, and Algeria.

The partnership with Egypt’s Al Manar Group will allow Nanol Technologies to establish a footprint in the Middle East and North Africa (MENA) region.

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