The United Kingdom Lubricants Association(UKLA) acknowledge destructive effect of engine oils being sold at half UK manufacturers costs.

WAKEFIELD, WEST YORKSHIRE, UNITED KINGDOM, March 4, 2024 /EINPresswire.com/ -- In a presentation at the Argus Base Oils Conference in London on February 20th it was highlighted the destructive nature of an importer selling lubricants at substantially below UK lubricant blenders costs. Import statistics from the GOV.UK site show a dramatic increase in lubricants flooding in from Lithuania and the United Arab Emirates with imports rising from GBP1.4 million in 2020 to a staggering GBP52.5 million in 2023. When calculated against the reported recorded weights, data show that the average import price per kilo paid was GBP2.75 per kilo, a price that can be regarded as in line with cost expectations and not an issue for UK blenders to compete with. However, verified prices being offered to third party, UK lubricant distributors and Motor Factors are in the region of GBP0.75- GBP1.50 per kilo.
Lubriage Ltd in Northampton, the importer, published accounts last year in the UK showing a GBP29 million turnover with a net profit of over GBP4 million. A quite astounding result for a business that is selling product for less than half it is buying it for!
The UKLA has expressed deep concern on behalf of its members over this flagrant product dumping which has captured over 10% of the Passenger Car Motor Oil aftermarket business, leaving UK Manufacturers powerless to compete.
Lubriage Ltd is owned by Mannol Holdings UK Ltd whose pricipal Director is Eric Sudheimer, owner of UAB SCT Lubricants in Lithuania and SCT Chemicals Trading FZE. SCT are the only exporter of lubricants from Lithuania to the UK and while there are other exporters from UAE of lubricants, it is expected the vast majority of these growing volumes are from SCT.
The industry are pushing government agencies to act on what can only be, an illegal activity, and would appear to be orchestrated to illict maximum damage on a well established, mature industy that employs thousands of people in the UK.

Mark Lord
Aztec Oils ltd
+44 7785 501767
nark@aztecoils.co.uk

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.