SK Lubricants announced on May 12 that Saudi Arabia’s Rabigh First Lubricants will start selling lubricant products under SK’s own lubricant brand name “ZIC” this month.
Rabigh First Lubricants will pay brand royalty every year based on sales of ZIC lubricant products from this year to 2020.
Starting with sales in Saudi Arabia, SK Lubricants plans to push into the Middle Eastern and North African lubricant markets in earnest. The Middle East and South Africa have shown an annual average growth of 2.6 percent and are considered markets with strong growth potential, following India and China among BRICs markets.
Meanwhile, SK Lubricants opened a ZIC promotion booth at the Bangkok International Motor Show 2016 in March and the Bikefest 2016, a motorcycle trade show held in April in the Philippines, actively seeking to expand its business overseas.