Lanka IOC has achieved yet another milestone in Lube marketing by inking an agreement with M/s Lanka Ashok Leyland PLC (LAL) on 01.02.2012 for supply of lubricants to transport sector in Sri Lanka. LAL is one of the oldest Indian joint venture company established in 1982 between Govt of Sri Lanka and Ashok Leyland Limited, India to assemble Ashok Leyland vehicles in Sri Lanka. Presently over 20,000 nos Ashok Leyland vehicles are in operation in Sri Lanka. LAL is a market leader with 86% share in passenger vehicles segment and 54% share in heavy goods commercial vehicle segment in Sri Lanka. They have recently supplied 300 nos. buses to Sri Lanka Transport Board and is in the process of supplying additional 500 nos buses on revenue sharing basis. The maintenance of buses are taken care of by LAL and there lies the opportunity for introducing Servo Grades to the buses of Sri Lanka Transport Board who are presently using other brands.
Lanka IOC has appointed LAL as the Lube Distributor for transport sector in Sri Lanka to penetrate the business of Sri Lanka Transport Board and other major fleet operators who are depending on LAL for their spare parts/services. The agreement signing was held at Lanka IOC office at Colombo on 01.02.2012.
Mr. K R Suresh Kumar, Managing Director/Lanka IOC and Mr. Umesh Gautam, CEO, Lanka Ashok Leyland PLC have signed the agreement in the presence of Mr. Sudhir Bhargava, Additional Secretary MOP&NG ,Govt of India Mr. M. Nene, Chairman, Lanka IOC PLC & Director(M),IOC and Mr. Manish, Counsellor(Economic & Commercial), High Commission of India, Colombo.