Energy, Estonia, Legislation, Mergers and take-overs, Oil, Transport, USA

According to QLS AS’ board member Mihkel Niinemäe, acquisition of OIL TRADING Estonia enables to expand the product assortment and offer clients even higher service quality. ,,QLS has extensive experience in offering effective and innovative lubricant solutions. OIL TRADING Estonia has operated in the Baltics for over 12 years and it owns containers, vehicles and other devices for oil processing, that enable to supply international and local shipping, railway and transportation construction companies, car service providers, equipment stores and transportation companies. Currently 12 people work in united company, but in near future we plan to recruit more salespeople in order to increase sales at local markets and in export. Our goal is to restore sales to maritime industries,” said Niinemäe.

All contact information and addresses of the united company remain the same. ,,We make sure that acquisition would be as convenient as possible also for current clients of OIL TRADING Estonia,” confirmed Niinemäe.

Due to confidentiality clause the price of the transaction between the companies QLS AS and ENVIEM LUBRICANTS HOLDING B.V cannot be disclosed. Acquisition was consulted by law offices Leppik & Partnerid and Dutch firm Boekel and financed by Swedbank.

Since 2006 QLS AS, that is based on Estonian finances, is the only authorized dealer and distributor for Chevron Corporation TEXACO, Havoline and Ursa branded oils and lubricants in Estonia, Latvia and Lithuania.