STC breaks Rs. 3 b sales barrier, launches Sri Lanka’s first nano-tech lubricant

Minister of Industry and Commerce Rishad Bathiudeen arrives for the launch of nano-tech based Bio Car Vita coolant joined by CEO of Korea’s SG Industry Soo Young (far right), State Trading Corp. General Manager Parakum Wijeratne (second from right) and State Trading Corp. Chairman A.M. Jameel (far left) on 1 August in Colombo

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. 3,000 m.

“Despite stiff competition from private sector giants in the market, STC has increased its revenues five times over the last five years,” said Minister of Industry and Commerce Rishad Bathiudeen yesterday, addressing the glittering launch event of Bio Car Vita Coolant in Colombo.

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), 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 m to 700 m 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 5,000. I am pleased that STC’s sales for the year ended March 2016 recorded a huge Rs. 3,000 million. The Bio Car Vita radiator coolant is the latest addition in the product expansion efforts by STC. Such expansion efforts are in line with STC’s business vision of becoming the National Business Leader in Sri Lanka’s diversified goods and services supply chain, by representing reputed and trusted brands to fulfil the needs of our State sector institutions,” said Bathiudeen.

He added: “I also commend Korea’s 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%. 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 and electronics, office furniture and interior decors, FMCG, automotives, batteries and tyre, agricultural products, power and 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 behaviour patterns.”

“We are a leading coolant maker in Korea,” said SG Industry CEO Soo Young, addressing the event. “We are pleased to introduce Bio Car Vita to Sri Lankan market through STC. Car Vita can help to preserve Sri Lanka’s environment just as it helps in engine and fuel preservation.”  

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.