Castrol and Mahindra Tractors in exclusive tie-up

Release date: 04 May 2004

"Mumbai, May 4, 2004: Castrol India Ltd. (CIL) today announced a tie-up with Mahindra Tractors to supply diesel engine oils for their tractors. As per the agreement, Castrol will develop, manufacture and supply a specially formulated diesel engine oil for use in Mahindra tractors. The new diesel engine oil called Castrol CRB Prima is a variant of Castrol CRB Plus – market leader in the multigrade diesel engine oil segment. CRB Prima will be exclusively recommended by Mahindra and will carry on-pack M&M endorsement. "

"Castrol CRB Prima is a high performance multigrade diesel engine oil suitable for tractors. It will be available in all M&M authorized workshops as well as Castrol’s extensive retail outlet network – the largest amongst all lubricant companies. The marketing and sales teams of both the companies will jointly promote the new brand through on-ground marketing and sales promotions activities. Speaking at a press conference held in Mumbai to announce the tie-up, Mr. Naveen Kshatriya, Managing Director, CIL, said, “This is indeed a momentous occasion for Castrol. We are delighted to be given this opportunity to be exclusive suppliers of CRB Prima to Mahindra & Mahindra’s Farm Equipment Sector. We believe this is the first step towards building a long and broader relationship between our two organizations”. Commenting on Castrol’s ‘partnership philosophy’, Mr. Kshatriya said, “OEM partnerships have been the cornerstone of Castrol’s success worldwide. This partnership with Mahindra & Mahindra enables us to leverage the leadership position of two major brands in the tractor segment and offers consumers the best product for their equipment”. "

"Mr. Rajeev Dubey, Executive Vice President, Human Resources & Corporate Services, M&M Ltd., said – “As the market leader in tractors, it has been our endeavour to offer the best technology to our customers along with the support service mechanism of spares and lubricants. This tie-up will enable us to maximise the strengths of both the players and offer superior products for the ultimate benefit of the end customer.” Mr. Naveen Kshatriya – Managing Director, Castrol India Limited and Mr. R. Bhurat, Vice President, Spares Business Unit, M&M Ltd signed the agreement. "

"NOTE: Castrol India is the market leader in the retail automotive lubricant market. With its range of premium brands the company enjoys a leadership position in all vehicle segments in which it operates, including the tractor segment. Castrol has been operating in India since 1919. Mahindra & Mahindra Ltd., is the market leader in tractors for over two decades with a current market share of 27%. The company has sold over 9,00,000 tractors since inception. Its US subsidiary Mahindra USA, has successfully established the Mahindra brand in the highly competitive US market. It recently won the Deming Application Prize 2003 - the first tractor company in the world to do so. The company’s vision is to become the largest tractor manufacturer in the world. "