Cosans lubricant business segment Moove reported net revenue of 511.5 million Brazilian reais (U.S. $161.4 million) for its second quarter, up 5 percent from the same period last year, thanks to higher sales volume.
Lubricant sales volume for the quarter was 83,000 metric tons, a 6 percent jump from last year.
In 2Q17 Moove recorded sales volume growth in all markets, a result of the companys business strategy focused on increasing customer base and share among Brazils automakers, besides the launch of new products, said the earnings release.
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Sao Paulo, Brazil-based Cosan, a producer of sugar and ethanol products since 1936, expanded through acquisitions beginning in 2008 to become a distributor of fuels and lubricants.
Novvi, a joint venture between Cosan and U.S. research firm Amyris, develops renewable synthetic base oil from sugarcane.
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