HTL starts production of ZIC lubricants under SK Enmove MoU

MG News | November 28, 2024 at 11:20 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 28, 2024 (MLN): Following the initiation of the MoU signed between Hi-Tech Lubricants Limited (PSX: HTL) and SK Enmove Co., HTL has officially begun blending and packaging high-quality synthetic lubricants at its subsidiary's plant under the ZIC brand name.

HTL had previously announced in June 2024 that it signed a MoU with SKEN for the supply of additives, ingredients, and formulas to produce specific high-end synthetic lubricants.

This partnership was intended to take place at HTL’s subsidiary company, Hi-Tech Blending (Pvt.) Ltd.

The main objective here was to reduce the costs and expenses, including specifically, the duties and taxes as compared to the import of fully blended/ packed lubricant products from South Korea, and improve margins by enabling more competitive pricing according to market competition and trends.

Hence, after receiving necessary additives, ingredients, and formulas from SKEN, HTL is now actively producing high-end lubricants locally, which is expected to enhance its competitiveness and profitability in the market.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	175,802.79 267.06M	-1.30% -2320.78
ALLSHR	106,568.29 617.78M	-1.25% -1352.24
KSE30	52,497.68 83.82M	-1.25% -665.92
KMI30	247,323.37 106.69M	-1.37% -3422.76
KMIALLSHR	68,315.26 363.70M	-1.37% -952.13
BKTi	49,936.11 23.35M	-1.18% -594.28
OGTi	34,758.02 9.23M	-1.71% -605.59

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,085.00	64,255.00 63,980.00	-185.00 -0.29%
BRENT CRUDE	88.26	88.38 83.71	4.03 4.78%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-0.65 -0.61%
ROTTERDAM COAL MONTHLY	119.80	120.30 119.80	0.00 0.00%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	81.77	82.07 77.93	3.49 4.46%
SUGAR #11 WORLD	14.82	14.94 14.39	0.38 2.63%