Partnering with a leading Korean lubricant maker, Sri Lanka’s 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 3 billion.
“Despite stiff competition from private sector giants in the market, STC has increased its revenues five times over the last five years” said the Minister of Industry and Commerce Rishad Bathiudeen on 01 August in Colombo.
Minister Bathiudeen was addressing the launch event of Bio Car Vita Coolant in Colombo on 1 August. Made by Korea’s 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 Lanka’s 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 Lanka’s state sector.
“Despite 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 STC’s sales for the year ended March 2016 recorded a huge Rs 3000 Million,” he said.
The “Bio Car Vita” radiator coolant is the latest addition in the product expansion efforts by STC. According to the manufacturer, this coolant can save fuel up to 30 percent.
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.
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 vita’s far infrared induced “complete combustion” maintains constant temperatures-at Celsius 85.