ELF LUBRICANTS' INDIAN UNIT TO BE FULLY-OWNED

Article Abstract:

Elf Lubricants will convert its Indian venture into a wholly- owned subsidiary by acquiring the 26 percent stake held by joint venture partner Raysif India Ltd. Elf Lubricants is buying out the stake as the domestic partner was unable to raise the required resources. Elf will increase its capacity from 20,000 tonnes to 30,000 tonnes of lubricants per annum. It has also committed to divest a 26 percent stake within 5 years as per the existing policy for the sector. (khr)

Comment:

Elf Lubricants will convert its Indian venture into a wholly- owned subsidiary by acquiring the 26 percent stake held by joint venture partner Raysif India Ltd.

Acquisitions & mergers, Foreign operations, Expanded capacity, plant expansion, Automotive Lubes & Greases, Automotive lubricants, Elf Lubricants North America Inc.

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VCL TO SET UP $4 M LUBRICANT PLANT IN INDIA

Article Abstract:

Volvoline Cummins Ltd (VCL) plans to set up a $4 million lubricants manufacturing unit in India. VCL is a joint venture between Volvoline International of USA and Cummins Diesel Sales & Services (India) Ltd. The plant is likely to be located on the west coast near Mumbai. VCL plans to strengthen its market share in the western and northern states. It plans to set up a warehouse near Calcutta for storing lubricants to meet the needs of the eastern region. (gs)

New capacity, new plant construction, Joint ventures, Organizational history, Industrial Machinery Whsle, Industrial Machinery and Equipment Wholesalers, Lube Oils, Motor Oils for Onroad Vehicles, Machinery wholesalers, Lubricating oils, Motor oils, Valvoline Co., Valvoline Cummins Ltd., Cummins Diesel Sales & Services (India) Ltd.

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