Vidamo launches 3 new products

Vidamo Petrochemical JSC, an affiliate of PetroVietnam Oil Corp. (PV Oil), has launched three products named Vspeed, Vtech and Vdmax which meet international standards, in a move to expand its domestic lubricant business. Vspeed is suitable for motorbikes, Vtech for autos, and Vdmax for heavy lories, Vidamo Director Nguyen Tri Dung said. The firm hopes to produce 2,200 tons of lubricants and sell a total of 22,200 tons of petroleum products and lubricants this year, which will bring in revenues totaling VND370 billion (US$17.6 million). The company has two lubricant blending plants, with a combined capacity of 20,000 tons a year in the northern city of Haiphong and Ho Chi Minh City. It aims to grow its market share to 10%, with an annual growth rate for revenues of between 15% and 25% in 2011. (November 17,2011)