OREANDA-NEWS. Idemitsu Kosan Co.,Ltd. announces that its wholly owned subsidiary, Idemitsu Lube Vietnam Co.,Ltd., has begun sale of Idemitsu lubricant products in January this year, following completion of its lubricant blending plant in December 2013.

With a population of roughly 90 million in 2013, of which more than 60% is under the age of thirty, Vietnam has been enjoying a high level of economic growth of approximately 6%. Further increases in domestic demand are expected, as can be seen in the achievement of annual motorcycle sales of three million units. It is forecast that the demand for lubricants in Vietnam will continue to grow at an ever greater rate.

To meet demands for a stable supply of engine oil for motorcycles and automobiles as well as industrial lubricants to keep pace with growing demand in the future, products the production of which has been outsourced to date are now manufactured at the newly-established facility, the first Japanese lubricant blending plant in Vietnam, and sales to customers such as Japanese motorcycle and automobile manufacturers was launched in January.

By building independent networks from manufacture through distribution and sale of its own products with the construction of its own plant, Idemitsu Lube Vietnam will be able to deliver even more smooth and attentive services.

Plans call for taking advantage of this opportunity to strengthen lubricant sales in Vietnam and enhance its functions as a base for exports in the Southeast Asian region, aiming for sales volume of 22,000 k?, including exports, and net sales of 950 billion dong (approx. 4.5 billion yen) in 2015.