Indian transformer oils and lubes manufacturer Apar Industries Ltd.formed a joint venture with a car dealer that aims to supply lubes to the government.
Aparagreed with Hyderabad-based car reseller PPS Motors Pvt. to take a 40-percent stake in a JV incorporated as Ampoil Apar Lubricants Private Ltd. The JV will market PPS Ampoil brand.
The focus will be to sell lubricants to state government, central government, public sector or semi-government, as well as defense and original equipment manufacturers, Company SecretarySanjaya Kunder said in a Jan. 2 filing. The company declined to provide additional details.
PPS Motors is an authorized dealer of Volkswagen vehicles in the southern states of Telangana and Andhra Pradesh, according to its website.
Indias largest manufacturer of transformer oils, Apar commands about 45 percent of the market. Specialty oils account for about 35 percent of the companys revenue, while auto lubes contribute about 5 percent, or 22,000 tons, in its most recent fiscal year, which ended in March 2017.
The Mumbai-based lube suppliers automotive business is based on licensed sales of Italian manufacturer Eni S.p.A.s Eni-branded engine oils through a network of 450 distributors and 15,000 retailers throughout India.