Shandong Yuangen Petrochemical announced it is setting up operations to produce its Yuangen brand of lubricants in Singapore for distribution throughout the Asia-Pacific region.
In a press release this month, the Shandong, China-based producer of lubricants, greases and antifreeze said production will begin in February. The company said it has made an investment but did not say whether it owns the plant where the products will be made or if another company has been contracted to produce them.
Shandong Yuangen distributes to more than 30 provinces in China, but expects increased demand in markets outside of China in the coming years, and said that a plant in Singapore will be the key to reaching other Asia-Pacific markets.
Founded in 2002, the company produces lubricants for automotive, construction and industrial segments, as well greases, antifreeze and specialty oils for coal mining, power generation equipment, metallurgical engineering, marine power equipment, textile machinery and more industries.