Chevron Lubricants Lanka PLC is a manufacturer, distributor and marketer of Petroleum-based

lubricant A lubricant (sometimes shortened to lube) is a substance that helps to reduce friction between surfaces in mutual contact, which ultimately reduces the heat generated when the surfaces move. It may also have the function of transmitting forces, t ...

s in

Sri Lanka Sri Lanka (, ; si, ශ්‍රී ලංකා, Śrī Laṅkā, translit-std=ISO (); ta, இலங்கை, Ilaṅkai, translit-std=ISO ()), formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an ...

. The company is one of the constituents of the

S&P Sri Lanka 20 Index The S&P SL20, or the Standard & Poor's Sri Lanka 20, is a stock market index, based on market capitalization, that follows the performance of 20 leading publicly traded companies listed in the Colombo Stock Exchange. The 20 companies th ...

and the

Chevron Corporation Chevron Corporation is an American multinational energy corporation. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is headquartered in Sa ...

holds a controlling stake (51.00%) of the company's stocks. The company offers engine oils, gear oils, transmission oils under the brand name Havoline while offering diesel vehicle engine oils, industrial lubricants,

coolant A coolant is a substance, typically liquid, that is used to reduce or regulate the temperature of a system. An ideal coolant has high thermal capacity, low viscosity, is low-cost, non-toxic, chemically inert and neither causes nor promotes corros ...

s, brake fluids under the brand name Delo. For the financial year 2019/20, Chevron Lubricants Lanka was ranked 67th in '' LMD 100'', a list of listed companies by revenue in Sri Lanka.

History

The company was incorporated in 1992 and in 1996 was listed on the

Colombo Stock Exchange The Colombo Stock Exchange (CSE) ( si, කොළඹ ව්‍යාපාර වස්තු හුවමාරුව, translit=Kolamba Vyapara Vasthu Huvamaruva; ta, கொழும்பு பங்கு பரிவர்த்தனை) i ...

. The Government of Sri Lanka through its privatisation initiative sold its stake of 51 per cent in Lanka Lubricants Limited to Caltex International in 1994. In 2007, the company was renamed Chevron Lubricants Lanka Ltd from Caltex Lubricants Lanka. The renaming was done in connection with the

global branding A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create an ...

and to clarify the organisation's identity.

Operations

Muhammad Najam Shamsuddin was appointed as the new managing director/CEO of the company in September 2020 after Patrick McCloud resigned from the position. Kishu Gomes is the former managing director/CEO of the company and after 22 years of service quit the post in 2018. In the third quarter of 2020, despite the effects of the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identified ...

sales of the company rose compared to the second of the year and the third quarter of 2019. Chevron Lubricants Lanka operates a blending plant in Sapugaskanda. Brand Finance ranked Caltex 72nd in the 100 most valuable brands in Sri Lanka.

References

External links

* {{All Share Price Index 1992 establishments in Sri Lanka Chevron Corporation Companies listed on the Colombo Stock Exchange Manufacturing companies based in Colombo

History

Operations

See also

References

External links