Hi-Tech Lubricants Limited signed a Memorandum of Understanding (MOU) with its Korean supplier SK Enmove Co. Ltd for the supply of specific additives, ingredients and formulas for blending and packaging of the high-end synthetic lubricants under its brand ZIC.
The HTL will be able to improve its margins by enabling more competitive pricing according to market competition and trends, the company said in its notice to the Pakistan Stock Exchange (PSX) on Friday.Â
The blending of such high-end synthetic lubricant products under the renowned brand name ZIC in Pakistan will help to reduce costs and expenses, specifically the duties and taxes as compared to the import of fully blended and packed lubricant products from South Korea.Â
Apart from SKEN’s transformation into an Energy Saving Company, SKEN has the vision to lead in fuel efficiency improvement and provides premium lube base oil products that enhance automobile fuel efficiency, hence, to strengthen SKEN’s supply capabilities, SKEN has established production hubs in Europe and Asia and formed joint ventures with global partners which allows SKEN to reliably supply high-quality products to 50 regions worldwide.Â
So, HTL will also be able to fulfil the regional demands of international customers of SKEN through the export of such lubricant products.
