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Gulf Oil Lubricants India on Monday said it has entered into a long-term strategic partnership with South Korea's S-Oil Corporation.
As per the deal, the company will exclusively manufacture and market S-Oil's entire range of lubricants under the brand - S-Oil Seven - for the Indian market, Gulf Oil Lubricants India said in a statement.
It is the first time ever that S-Oil lubricant product will be manufactured outside of South Korea, it added.
"Our relationship with S-Oil gets even stronger with this opportunity as we will work together to launch new products and grow our market shares in India across segments, bringing in a range of technologically advanced products for Indian consumers looking for value-creating solutions," Gulf Oil MD and CEO Ravi Chawla said in a statement.
The S-Oil Seven range, made with leading technology, would be now made in India, he added.
"...it is the first time ever we have seen the S-OIL brand of lubricants manufactured outside of South Korea which is only possible because of our strong and long-term relationship with Gulf Oil," S-Oil Corporation Head of Global Sales HQ J H Bae said.
The market launch of S-Oil Seven in India would happen in the third quarter of the current financial year, Gulf Oil Lubricants said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Mon, September 28 2020. 15:33 IST