Gulf Oil Lubricants India’s parent company -- Gulf Oil International has reached an agreement to acquire a lubricant blending plant from Ocean Tankers (PTE), Singapore, which will help it expand market share in marine lubes. The plant, which is in the Tuas region of the Island city-nation will be acquired with wharf access, storage tank farm and terminal facility as per the agreement. The facility will be acquired and continue to operate as a going concern and the agreement is subject to closing conditions.
Gulf Oil Lubricants, part of Hinduja Group, is an established player in Indian lubricant market. It markets a wide range of automotive and industrial lubricants, greases, 2-wheeler batteries, etc.
