The oil brand Veedol is set to be relaunched in Europe.
Veedol as it used to be Image: OldGas.com |
Tide Water Oil, a public sector lubricant-maker, is targeting European markets like Germany, Austria and Switzerland by re-launching the Veedol brand.
Veedol and its sub-brands — Prima, Turbo and Take Off — are aimed at diesel engines, two-wheelers, tractors, earth-moving equipment and hydraulic machinery, as well as industrial and automotive greases. Currently the products have gained a 5% market share in India.
Tide Water Oil acquired the global marketing rights to the brand (spanning 120 countries) from BP two years ago, but had made little early impact with Veedol, given that BP had allowed marketing and advertising investment to lapse over the past eight years or so.
Now, with a global presence which includes an operational subsidiary in Dubai serving the Middle East and African markets and a new market in South Africa, Tide Water is also tapping into renewed interest in Taiwan and Myanmar. The organisation also sells lubricants under the brand Eneos, licensed from JX Nippon Oil and Energy Corp of Japan.