November 29, 2010 / 11:58 AM / 9 years ago

UPDATE 1-Repsol signs 5-year lubricant deal in Asia

* Says to make and distribute 20,000 tons of lubricants

* Business to reach 25 pct of annual Spanish sales by year 5

(Writes through, adds detail)

MADRID, Nov 29 (Reuters) - Spanish oil company Repsol (REP.MC) said on Monday a five-year deal to make and distribute lubricants in China and Malaysia would deliver annual business by the end of the period equal to a quarter of Spanish sales.

Signed with Malaysian conglomerate UMW (UMWS.KL), the deal is for 20,000 tons of lubricants, said the company in a statement. Repsol makes lubricants for cars, motorbikes and industry.

The Spanish firm said the deal would help Repsol further expand its lubricants business in two fast-growing countries and included the possibility of sales in other markets.

“The presence of UMW in these areas will allow for significant expansion to other countries such as Singapore, Brunei, Papua New Guinea and Myanmar,” said Repsol. (Editing by David Holmes) (Reporting by Sarah Morris; Editing by Dan Lalor)

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