PTT expects to boost lube sales by 30%

Thailand’s PTT Plc expects lubricant sales to increase by 30.7% this year to 173 million liters due to strong global demand, the Bangkok Post reports. The domestic market will account for 140 million liters, PTT said, up 7.7% from 130 million liters last year. Exports will account for 33 million liters, up from 10 million liters last year, said Executive Vice-President Rachadech Khemthong. “China is a particularly strong export market this year,” he said. “Domestically, we are committed to launching more aggressive promotion campaigns.” Overseas, the company will build two more production plants in China, possibly in Shanghai and Tianjin, after opening a lube blending plant last year, through a joint venture with Guangdong-based Topship Chemical. The Guangdong factory has a capacity of 8 million liters per annum. He said the company is aggressively boosting sales in China. PTT also plans to open sales agents in Indonesia, Indochina and Africa. “We aim to be the top regional brand for lube,” said Rachadech. (January 24, 2012)