Rainer Schmiedchen, Consul General of the Federal Republic of Germany, unveiled the plaque of the stone laying of the Hascol lube oil blending plant at a ceremony held at a local hotel on the 20th of February, 2017. Mumtaz Hasan Khan, Chairman Hascol, Saleem Butt, Executive Director Hascol, Yasin Rizvi, COO Lubricants, Didier Vidal, MD FOMEL , Shakil Iqbal Khan, Deputy MD, FOMEL and the HPL management team graced the event with their presence along with dignitaries from the Oil & Gas & Banking Sector.
Hascol has a strategic License agreement with FUCHS Oil Middle East Limited (FOMEL), an affiliate of FUCHS Petrolub SE-Germany, to represent the FUCHS brand in Pakistan.
The German brand has emerged as a tough player in the oil lubricants sector depicting doubling sales volumes year after year. With an estimated cost of $20 million, the lube oil blending plant is expected to start operations by December 2017.
Hascol has emerged as a strong competitor for its counterparts in the industry and continues to strengthen its footprints. The escalating share price of the local company from Rs 56 to over Rs 350 in the past 2 years is evident of the confidence of its shareholders.-PR
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