Samsung C&T to sell 10,000 t/yr industrial/vehicle lubes to China

25 November 2010 06:20  [Source: ICIS news]

SINGAPORE (ICIS)--Samsung C&T will be selling into China around 10,000 tonnes/year of industrial lubricants from South Korean refiner GS Caltex, with the first shipment due to arrive in December, a source from the trading firm said on Thursday.

The volume of the first cargo was 1,000 tonnes, the source said. The lube grades were meant for end-users in the steel and automobiles industries, the source said.

In August this year, GS Caltex had signed deals with some South Korean tyre companies operating in China to market its vehicle-use lubricants.

Samsung C&T, the origin of Korean conglomerate Samsung Group, has an established presence in China since April 1990.

It is mainly engaged in trades of petroleum and chemicals, synthetic plastics, electronics, steels and textiles and related businesses.

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By: Nancy Shi

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