Unioil inked P50 M with Synchrotek
Making good of its boast to expand and diversify its line of business, independent oil player Unioil Petroleum Philippines Incorporated (UPPI) has inked a P50 million contract with a Cebu-based company dealing with marine engines,transmission,power generators, engines and spare parts in the Visayas and Mindanao region.
Chito Medina-Cue Jr., Unioil General Manager said the multi-million peso contract with Synchrotek Corporation would further boost the company's presence in strategic areas in the region while at the same time enhancing the public's awareness on Unioil's product line.
“This contract would definitely raised Unioil's presence in the Visayas and Mindanao areas, particularly in the areas of Bacolod, Iloilo, Cebu, Panay, Negros, Davao and General Santos City where our partner company, Synchrotek has major presence,” Medina-Cue Jr. said during the contract signing in Cebu City.
Aside from Medina-Cue Jr, also present during the signing were officials of Synchrotek lead by Merck Salazar, chief operating officer.
Under the terms of the contract, Unioil will supply Synchrotek with lubricants including the Idemitsu brand for the use of the latter's marine, mining and power generation machines.
“They (Synchrotek) shall be interfacing in their business sales of quality marine oil and hydraulic fluids the latest CI-4 diesel engine oil, greases and transmission fluids made by Unioil. We will also supply them with the Idemitsu synthetic base lubricants for both diesel and gasoline engines for greater reliability and longer drain,” Medina-Cue Jr. said.
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.
Unioil has set its sight on a major expansion program for its lubricant products this year with 10 new distributors each in the Southern Tagalog region, Bicol, Northen Luzon, Western Visayas and Mindanao.
Last month, it inked a P20 million supply contract with Yokohama Tires Philippines Incorporated for industrial and marine oil.
Last year, Unioil also signed 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 boosted Unioil’s revenues by P24 million (US$500,000) a year.
The 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. ### Leah C. Flor
by: Ms. Leah C. Flor
Corporate Communications Officer