Petronas Lubricants Partners Halfords Group To Capture UK Market

KUALA LUMPUR, July 20 (Bernama) -- Petronas Lubricants International Sdn Bhd (PLI) Wednesday announced its partnership with Halfords Group plc, a British retailer of motoring and cycling products operating in the United Kingdom (UK) and Ireland. The retail partnership marks the first time Petronas Syntium with °CoolTech will be made available directly to end consumers there. Petronas Syntium with °CoolTech is the next generation high performance engine oil formulated to fight excessive engine heat to maintain optimum performance of a trouble-free drive. The motor oil will be marketed in 415 Halfords retail stores nationwide, starting from July 8, 2016, PLI said in a statement. PLI Regional Head of Europe, Alessandro Orsini, said the UK was a key growth market for the company and the group had aggressive plans to capture a five per cent market share there. "We will further increase sales volume by 55 per cent by 2021," he said, adding that Halfords was the ideal partner to help the company achieve its ambitious goal. In a 2015 global lubricants market report published by Kline & Co, the consumer automotive lubricants market in the UK was stable and forecast to increase at a compound annual growth rate of one per cent to 2019. The demand for passenger car motor oils in the UK accounts for about 84 per cent of the consumer automotive segment, the report said. -- BERNAMA