ABC Group enters local lubricant market

ABC Group together with Total Lubricants India Limited (TLIL) entered into the local lubricant market as ABC Lubricants (Private) Limited recently.

Speaking to Daily News Business an official of ABC Lubricants said they did a feasibility study before and found that there is a good market potential for quality lubricant oil in Sri Lanka.

He said there is no decline in the local lubricant market. “We have noticed that consumers are looking for high quality lubricant oils which they could use for a long period of time without changing oil regularly. There is a huge demand for high quality lubricants in Sri Lanka.

“At the initial stage they expect to capture considerable amount of market share during two to three years time.

“We had the soft launch of the product few weeks back and at the moment we are expanding our distribution network in the Western Province.

“We will be expanding our distribution network in the Southern and Central Provinces by end of this year.

“Plans are also being made to expand the distribution network islandwide by the first quarter of next year, he said.

“There is a huge competition in the local lubricant market and all the players adopt aggressive marketing strategies. But we are confident that we would be able to capture the market share that we are targeting with the competitive pricing,” he said.

“We have introduced two flagship brands “Total” and “Elf” lubricants into the Sri Lankan market under this partnership. The range comprises engine oils for commercial vehicles, motorcycles and cars, gear oils and greases and more interestingly Fuel Economy engine oils for commercial vehicles,” he said.

TLIL is a subsidiary of Total, a French industrial giant with a group turnover that exceeds US$ 150 billion. With interests that span across the gamut of petroleum activities, from exploration to production and refining to marketing, the Group is the foremost industrial group in France and amongst the largest in the world. It is also the leading refiner-marketer in Europe and co-leader in Africa, he said.

(AS)