IOC, HMT join hands to market Servo oil for HMT Tractor

Bangalore, Mar 16 (UNI) Public sector units Indian Oil Corporation Limited (IOC) and HMT Limited today joined hands for marketing a range of co-branded Servo Genuine Oils for HMT tractors.

An agreement to this effect was signed here by IOC Executive Director (Lubes) Amitava Chatterjee and HMT Executive Director (Tractors) Prakash Sharan.

Under the agreement, these oils would be made available through the extensive sales and service network of HMT and the dealer network of IOC, besides the bazaar trade, thus offering an extensive reach across the country.

The range of Genuine Oils available include Servo HMT Tractor Oil, meeting the universal tractor oil specifications, and HMT Premium tractor oil, meeting the API CF4 level performance and conforming to the Bharat III environmental standards, besides Servo HMT Gear Oil and Servo HMT Grease.

Speaking on the occasion, Mr Chatterjee said the agreement was expected to boost sale of oil by 250,000 litres in the first year.

IOC enjoyed 40 per cent share in lubricant market in the country and 47 per cent share in petroleum products.

IOC General Manager (Corporate Communications and Branding) N Srikumar said the Corporation had undergone a major transformation for selling the products. There were 180 Servo stockists now and the number would be increased to 230 by the year-end. Besides, there were 30,000 sales points and 1,100 Kisan Seva Kendras.

HMT Chairman and Managing Director A V Kamat, who was also present, said it was a new concept adopted by the company to improve its sales and presence in the market. Last year, the company had registered Rs 2,500 crore turnover by selling 9,000 tractors.

UNI