Partnering with a leading Korean lubricant maker, Sri Lankaโs official supply giant to the state sector has launched the first ever nano-tech powered automotive coolant for Sri Lankan lubricant market on 1 August-and despite stiff competition from the private sector, State Trading Corporation is now reporting a whopping sales figure of Rs 3000 Mn!
โDespite stiff competition from private sector giants in the market, STC has increased its revenues five times over the last five yearsโ said the Minister of Industry and Commerce Rishad Bathiudeen on 01 August in Colombo.
Minister Bathiudeen was addressing the glittering launch event of Bio Car Vita Coolant in Colombo on 1 August. Made by Koreaโs SG Group, the proven Bio Car Vita controls fuel temperatures at a constant level while increasing car fuel efficiency up to 30% level -and Sri Lankaโs official supply giant to the state sector State Trading Corporation (STC) functioning under Minister Bathiudeen has, in addition to introducing the nano tech powered coolant to the country, also successfully clinched the Car Vita dealership for Sri Lankaโs state sector.
โDespite stiff competition from private sector giants in the market, STC has increased its revenues five times over the last five years. The STC Equity also increased from Rs 100 Mn to 700 Mn over the years. Focus has been drawn on adding new product lines to existing product portfolio and total number of STC product portfolio has now exceeded 5000. I am pleased that STCโs sales for the year ended March 2016 recorded a huge Rs 3000 Million. ย The โBio Car Vitaโ radiator coolant is the latest addition in the product expansion efforts by STC. Such expansion efforts are in line with STCโs business vision of becoming the โNational Business Leaderโ in Sri Lankaโs diversified goods and services supply chain, by representing reputed and trusted brands to fulfil the needs of our state sector institutionsโ said Minister Bathiudeen addressing Car Vitaโs glittering launch of 01 August at BMICH, and added: โI also commend Koreaโs SG Industries for choosing STC as the sole distributor of Car Vita to the state sector institutions. According to the manufacturer, this coolant can save fuel up to 30 percent. STC was established to supply all products and services to the state sector while catering to all other segments, maintaining stakeholder interest and supporting Sri Lanka to become the commercial hub of Asia. STC deals with a wide range of products -office stationery and equipment, construction and hardware items, ICT products, electrical & electronics, office furniture and interior decors, FMCG, automotives, batteries & tyre, agricultural products, power & hand tools and even chemical products. STC has increased its revenues five times over the last five years. The business strategies of STC have also been adjusted from time to time to face new changes taking place in the market and consumer behavior patterns.โ
โWe are a leading coolant maker in Koreaโ said SG Industry CEO Soo Young, addressing the event. ย โWe are pleased to introduce bio car vita to Sri Lankan market through STC. Car vita can help to preserve Sri Lankaโs environment just as it helps in engine and fuel preservation.โ
The proven Car Vita nano-tech coolant reduces oil consumption up to 30% by effectively breaking down fuel molecules and controlling surface thermal expansion. SG Industries did not reveal the chemical formula of Car Vita coolant but said Car vitaโs far infrared induced โcomplete combustionโ maintains constant temperatures-at Celsius 85.
Leader of All Ceylon Makkal Congress