Infineum, a joint venture of ExxonMobil Chemical and Shell Chemicals has put together some big plans for the Indian and certain other South Asian markets during the next five years. The greater than $3 billion UK headquartered group last week announced significant investments in research and business expansion in India.
The recent thrust from Infineum, one of the leading global lubricant and additive suppliers, comes about three years after it first opened its wholly-owned enterprise in India. Commenting on the development, Boon Ping Chia, Director, Asia Pacific Sales at Infineum said, “This was the first step in focusing on the India market. Such a collaborative and win-win partnership is important in today’s economic situation. It’s an era of uncertainty and opportunities in our industry”.
Infineum has said the group intends to adapt its global technology for India’s needs and increase its dedicated resources in India. Further, the blue print also involves collaborating on high quality technical support with vehicle manufacturers and oil companies, as well as enhanced local operations and supply optimization.
According to the group’s executives, the lubricant and additive volumes are set to increase in India for years to come, due to factors including rising mobility and economic growth. India is currently the third largest lubricant market globally and offers great potential for future growth with vehicle ownership ratio being just over 22 vehicles per 1000 people. Furthermore, alternatives to ICE being still decades away from being significant, the executives are of the view that enhanced investment in lubricant additive technology and newer business models, will help it to grow in the country.
Celebrating 20 years of Infineum: Looking into the future
Established in January 1999, Infineum is involved in the production of additive products including those used in automotive, heavy-duty diesel and marine engine oils, diesel fuels and specialty applications such as transmission fluids and gas engine oils. The group/organisation has worldwide production facilities with business centres strategically located in UK, USA, China, Japan and Singapore and sales teams covering more than 70 countries including in India. The group generates revenue of over $3 billion and has employees and contractor strength of about 3000 people. Infineum states that its additives are used inside one in every three vehicles worldwide and has a portfolio of over 1800 patents and patent applications around the world.
Infineum celebrated two decades of its existence with an event in Goa. Representatives and business partners from across the fuel and lubricant industry participated in the event. Some of the leading topics discussed during the three-day event included; technology value, the future of lubricants industry in India- the Infineum view, PTF & e-fluids trends, engineering trends in commercial vehicles and passenger vehicles, global & regional engine and lubricant trends and motorcycle engine oil trends. There was a special presentation highlighting the growth momentum in a complex market like China and, the highlight for many, a panel discussion which was moderated by Hormazd Sorabjee- Editor, Autocar.
Dr Bruce Royan, Lubricant Additives Business Manager, Infineum said, “There is a definite need for differentiated additive technology in order to deliver the value-engineered lubricants that India and the Indian OEMs will require in the near future, and this is where Infineum will be able to play a critical role.”