Lanka IOC inks agreement with CEAT Kelani International Tyres

Friday, 21 February 2020 00:00 - - {{hitsCtrl.values.hits}}

Lanka IOC MD Manoj Gupta (fifth from left) and CEAT Kelani International MD/CEO Ravi Dadlani (sixth from left) along with other team members during the agreement signing

Lanka IOC, the number one listed energy company, inked an agreement with Tyre Industry Giant and market leader M/s. CEAT Kelani International Tyres Ltd. for provision of bulk tankage facility and supplies of process oils in bulk.

CEAT Kelani’s manufacturing operations in Sri Lanka encompass the radial, commercial, motorcycle, three-wheeler and agricultural vehicle segments. The brand accounts for market shares of 33% in the radial segment, 52% in the Truck/Light Truck tyre category, 50% in the Three-Wheeler tyre segment, 30% in the motorcycle tyre segment and 72% in the agricultural vehicle tyre category. The company exports about a third of its production to 16 countries in South Asia, the Middle East, Africa and the Far East.

Lanka IOC’s Servo, a leading lubricant brand in Sri Lanka, is also the single largest oils and lubes brand in India. Over the years, it has established its authority and, on the strength of its proven quality, has built exceptional relationships with automobiles and specialty engine manufacturers. Having achieved distinction in India and Sri Lanka, Servo has also made inroads into the highly competitive global markets. Today, it has established its footprint in more than 30 global destinations. The newly signed agreement by LIOC with CEAT, will help bringing in substantial value addition in terms of cost and operational efficiency.