MUMBAI, India–On June 16, TotalFinaElf India Ltd., wholly owned subsidiary of Total, the fourth-largest oil major worldwide, announced its plan of doubling its market share by the year 2010 and unveiled the new Elf logo. With a turnover upwards of 2.75 billion rupees (U.S. $63.2 million) and sales of 40,000 metric tons last fiscal year, the Indian unit ranks sixth in the Total Groups worldwide lubricants revenue.
The companys avowed business strategy entails strengthening the distributor network, increasing investment in brand image, expanding relationships with fuel and gasoline stations and augmenting exports to neighboring countries. Towards this end it has earmarked an investment of 250 million rupees (U.S. $5.75 million) over the next five years, by which time it hopes to occupy the number four slot in the Group.
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