NEW DELHI: 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 added that it is the first time ever that S-Oil lubricant product will be manufactured outside of South Korea.
"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.
He added that the S-Oil Seven range, made with leading technology, would be now made in India. "...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 JH Bae said.
Gulf Oil Lubricants said that the market launch of S-Oil Seven in India would happen in the third quarter of the current financial year.