Gulf Oil Corp. Ltd. may demerge its lubricants business into a separately listed company, according to a Feb. 8 filing with the National Stock Exchange of India.
In the Feb. 8 filing, Gulf said its board discussed the matter at a Feb. 7 meeting as part of possible restructuring of various businesses, and that it authorized the committee of directors to consider the matter in detail and make necessary recommendations.
The possible demerger is just a technicality that would have no impact on the lubricants business whatsoever, and it is early in the process, a company official told Lube Report.
Hyderabad, India-based Gulf Oil is part of conglomerate Hinduja Group. According to Gulfs web site, the company started its lubricants division in 1993 to manufacture and market lubricating oil and greases. In addition to having a network of more than 2,000 distribution outlets in India, it is a major exporter of lubricants from India.