Indian lubricant maker GP Petroleums Ltd. (GPPL) recently signed an agreement with Mag Lube to manufacture and market IPOL lubricants across the world. According to the agreement, Mag Lube will pay a royalty to GPPL for the formulation technology and brand. The initial focus will be in the Middle East, Africa and Far East markets, primarily in the automotive and industrial lubricant space. Specialty products like neat cutting oils and rust preventives will be sourced from GPPL.
"Our objective behind this step is to utilize the expertise of Mag Lube and their distribution to push the IPOL brand across the world, particularly in the Middle East and Africa," said Hari Prakash M, CEO at GP Petroleums.
Established in 2013, Mag Lube is one of the leading manufacturers of lubricants in the Middle East, with lubricant products distributed in more than 50 countries.
"We are sure that our expertise and widespread presence in various countries, along with GP Petroleums' veterans in the lubricant sector, will result in a great partnership," said Mahmoud Al Theraawi, CEO at Mag Lube. "We are happy to be a catalyst and part of IPOL's journey toward becoming an international brand."
An ISO 9001, ISO 14001 and OHSAS 18001 certified company, GP Petroleums specializes in formulating, manufacturing and marketing industrial and automotive lubricants, process oils, greases and other specialties under the IPOL brand name.
For more information, visit http://gppetroleums.co.in.