Savita Oil terminates collaboration agreement with Idemitsu

India’s Savita Oil Technologies has terminated the technical collaboration agreement with Idemitsu Lube India, a subsidiary of ldemitsu Kosan of Japan. The agreement was for the manufacture and marketing of Genuine Products.
The company is expecting a marginal impact of around 6% of the total provisional sales volume of the company for the financial year 2012-13. The company terminated the agreement on May 2, 2013, after having entered into a technical collaboration agreement with Idemitsu Lube India on November 1, 2006.
Savita Oil Technologies is engaged in the business of manufacturing and distributing a varied range of petrochemicals. Its product portfolio includes liquid paraffin, transformer oil, white oil, petroleum jellies, cable filling compound, emulsifiable polyethylene wax, and automotive and industrial lubricants amongst others.
The product line-up has industrial applications in pharmaceuticals, cosmetics, plastics, agriculture and veterinary.
(May 3, 2013)