GS Caltex signs deal with Dongfeng Motor Lubricant

GS Caltex, one of South Korea’s top oil refiners, announced that it has signed a deal with China’s Dongfeng Motor Lubricant (DFML) to sell its lubricants through Dongfeng Motor’s sales network. GS Caltex will provide both products and expertise to Dongfeng. The agreement will allow for both a strategic alliance and joint brand building. According to GS Caltex, the Chinese lubricant market is worth approximately US$11 billion. The executive director of GS Caltex states, “We will be penetrating the Chinese market in addition to running the local branch in India, to speed up overseas expansion of the lubricating oil market.” (May 17,2011)