Valvoline has announced a new supply deal to distribute its products to the growing Russian market.
The Valvoline brand, which is part of Ashland Consumer Markets, has announced a five-year agreement to distribute Valvoline oil product to the Russian passenger car market.
While the full worth of the agreement hasn’t been disclosed, it has been confirmed that Russiaâ€™s third-largest oil company TNK-BP will be distributing the oil.
Ashland Consumer Markets President Sam Mitchell said: â€œWe are very excited about this distribution relationship with TNK-BP.
“With its passenger car lubricants market being the largest in Europe â€“ and still growing year on year, Russia represents a significant growth opportunity for passenger car motor oils, particularly with the increasing popularity of Western cars.
“By combining Valvolineâ€™s brand leadership and high-quality lubricants with TNK-BPâ€™s extensive retail network and local market insights, we believe we can build a strong foundation for future growth and market share expansion.â€
A statement from TNK-BP said the company was looking forward to using the Valvoline products to grow consumer offerings at its 15,000 store locations throughout Russia. Thanks to the breadth of TNK-BP’s presence in the Russian market the Valvoline brand can also expect significant growth in the near future.