LAUGFS Lubricants ventures to Bangladesh, sets up JV

LAUGFS Lubricants, a fully owned subsidiary of LAUGFS Holdings recently ventured into international markets, expanding its presence to markets in Bangladesh and set up a joint venture towards the manufacture of lubricants.

LAUGFS Lubricants Director, CEO, Niroshan J. Peiris, said, “Our expansion into global markets such as Bangladesh is a significant milestone in our journey as a home-grown brand, reiterating our commitment towards creating value for all our stakeholders.

“As per Bangladesh regulation we have appointed a company in Bangladesh to manufacture lubricants under our recipe and regulation and our quality standards.” He said that after a few years they will acquire this company in Bangladesh.”

He said that they are anticipating a Bangladesh Taka 350 million turnover in their first year of operation and hope to increase this by 43% next year.” First introduced in the Sri Lankan market in 2008, LAUGFS Lubricants has grown exponentially offering lubricant solutions for every class of motor vehicles and industrial applications.

To meet the current demand in Bangladesh LAUGFS Lubricants, will also export their locally blended products. “This will bring in around USD 2.5 million to Sri Lanka in the first year of operation. At LAUGFS Lubricants, we have been able to steer forth to achieve our goals despite the prevailing challenging macroeconomic conditions, and this is a result of the dedication put forth by our team of energetic and innovative professionals who are passionate towards delivering our promise to our partners.’

“This is a proud moment for our company and a big step in our global expansion drive, and we will continue to innovate and provide world class lubricants to all our consumers.” The LAUGFS Lubricants Testing laboratory is the first petroleum laboratory in Sri Lanka to receive the ISO/IEC 17025:2017 accreditation under the scope of oil and lubricants, marking a monumental achievement.

“This certification demonstrates the technical competency and accuracy of test results of the products manufactured by the company.”

by Daily News Sri Lanka

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