UNIOIL INKED 20-MILLION CONTRACT WITH YOKOHAMA
July 30, 2009
In a bid to further expand its business network in the country independent oil player Unioil Petroleum Philippines Incorporated (UPPI) has inked a P20 million contract for the supply of industrial and marine oil for tire manufacturing giant, Yokohama Tire Philippines Incorporated.
The latest contract, Unioil General Manager Chito Medina-Cue Jr. said is a testament to company's reputation as a highly reliable source of quality yet inexpensive petroleum products geared specifically to the needs of its business partners.
“This is a living testament that Unioil and Yokohama are in the same line of thinking and reliability aside from the fact that we both value quality consciousness,” Medina-Cue said during the contract signing in the Yokohama Plant at the Clark Freeport Zone in Pampanga.
Unioil and Yokohama has a long history of partnership that started in 1997 with the provision for the supply of industrial oil and lubricants.
Medina-Cue said the annual contract value may even reach higher than the initial P20 million depending on the production and export volumes.
The latest contract signing is part of Unioil's ambitious expansion program that would see not only the construction of additional retail and service stations this year and the next but also in the lubricant and industrial oil market.
Last year, Unioil also inked a contract with Silver Tire Traders Inc., a local lube distributor based in General Santos City, as the company’s distributor of automotive lubricants in North and South Cotabato area
The lubricants distribution contracts with Silver Tire would boost Unioil’s revenues by P24 million (US$500,000) a year.
The company is also targetting 10 new lubricant distributors in the Southern Tagalog region, Bicol, Northern Luzon, Western Visayas and Mindanao areas this year.
Unioil, one of the country's leading independent oil players, carries a wide range of automotive and industrial lubricants that cater to retailers and resellers as well as industrial and commercial clients.
Blended in an ISO 9001:2000 certified blending facility in Valenzuela, north of Manila, the company’s products are house-brand and at par with international quality and standards.
As a major supplier of base oil in the local market, Unioil is currently capitalizing on its lead in the market by increasing its product lines for base stock and process oils. These are sold in bulk volume to other lubricant blenders and manufacturers.
The planned expansion of the company’s lubricants business is on top of the construction of six service stations it is targeting to put up within the year, mostly in Metro Manila and neighboring provinces. This expansion would cost over P90 million.
The company has about 40 retail and service stations, which are mostly located in Luzon. ### LCF
by: Ms.Leah C. Flor
Corporate Communications Officer
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