Japanese lube manufacturer Suzuki Kikoh Co. established a joint venture with a local company in Thailand to expand its industrial lubricant market in Asia, the director of the company told Lube Report.
The recently established Bell Hammer (Thailand) Co. will market Suzuki Kikohs Bell Hammer-branded lubricants in Thailand and throughout Asia. We will be expanding to China in two to three years time, and we are targeting overseas sales to overtake domestic sales within the next 10 years, Suzuki Yutaka said.
The company will target the high-end two-wheelers segment, and also engage the racing community to build Bell Hammer brand awareness in motorsports markets in Asia. It will also market its lubricants to Japanese industrial machinery operators and food manufacturers abroad.
We have been exporting by air, and the local price of our lubricants double when we do that, making it too expensive for our consumers, Suzuki continued. Through the joint venture in Thailand, we can now export by sea to Asia and the United States.
In the U.S., Suzuki Kikoh has a marketing agreement with Ceiba Technologies in Chandler, Arizona. Ceiba Technologies supplies high-precision products for the information technology industry. Suzuki believes the company can compete with major brands like WD-40 in the U.S.
Last year, with plans to enter the U.S. market, the company modified its formulation for its lubricants to a high-speed oil which rapidly forms a buffer layer between moving machine parts and functions under high pressure.