Mumbai: Speciality chemicals firm LANXESS on Tuesday announced signing an agreement with Hindustan Petroleum Corporation Limited (HPCL) for marketing of aviation and industrial lubricants in the country and the SAARC region.
Under the memorandum of understanding, the collaboration will explore short-, medium-, and long-term marketing and business development opportunities for lubricants, and will enable broader local access to premium LANXESS-branded aviation and industrial lubricants in critical segments, the company said.
The partnership with HPCL aims to deliver technologically advanced, high-performing lubricant solutions, advancing standards and availability in India's booming aviation and industrial markets, LANXESS said.
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"Together with HPCL, we will accelerate growth in India's dynamic aviation and industrial markets," said Neelanjan Banerjee, SVP and global head of the business unit lubricant additives at LANXESS.
The company's additives business offers a variety of premium range of synthetic base stocks, additives and finished fluids for aviation, automotive and industrial applications under various brand names.
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"With LANXESS' expertise and our strong market presence, this collaboration will drive growth across aviation and industrial sectors," said Srinivas Ch, Executive Director for Lubes at HPCL.
