Bangkok--7 Sep--Jigsaw Communications
Total Oil (Thailand) Co., Ltd has sold its minority shares in Thai Lube Blending (TLBC) to PTT Retail Business. TLBC was established as a joint venture between Total Oil (Thailand) Co., Ltd and PTT Public Co., Ltd. in 1997.
This divestment of a non-strategic asset is part of Total’s global strategy to strengthen supply chain conditions in Thailand. Under this new organisation, Total Oil (Thailand) Co., Ltd will operate with higher efficiency and significantly-increased profitability to better serve the needs of the Thai lubricants market. The company will continue to benefit from an expanded distribution network for its high-quality automotive and industrial lubricants.
Thierry Pflimlin, Senior Vice President of Total Oil Asia-Pacific said, “Thailand is an important market in which we will continue to grow through the partnerships we have developed.”
For media enquiries, please contact Mr Thavattchai Tantikovit at +66-(02)2671833