Aminol, one of the largest lubricant marketers in Azerbaijan, produced 46,000 metric tons of finished products in 2023, most of which shipped to foreign markets, the company told Lube Report last week. While the output in 2023 is down 4% from the volume produced in 2022, the company considered the last year a success because it produced only 30,000 tons in 2021 and 18,000 tons in 2020.
The company attributes its growth to the well-established and expanded export channels, according to Yusif Aliev, co-owner and vice chairman of Alco LLC, Aminol’s parent company.
He added that that if the current security situation in the Middle East improves, “there is a significant interest for our products in Israel and Egypt.” Other projects the company successfully wrapped up in 2023 include production of plastic canisters and introduction of a printing press for their labels. The company also upgraded its lab “to support the expansion.” The company also expanded its storage capacity with construction of a 1,500-square meter warehouse and increased its liquid storage capacity by 2,200 cubic meters (2,000 tons), Aleiev said.
In 2023, Alco started to produce biobased lubricants and lubricants for wind turbines. Its portfolio includes a range of automotive and industrial lubricants, metalworking fluids, as well as marine and aviation lubricants. The company sells its products under four brands – Aminol, Tomoil, Eurotec and Maximum.
Aminol also makes car chemistry products, such as coolants and sprays, as well as deionized fluids, such as glycol mixtures used in construction and other industrial applications.