Tide Water Oil Co (India) Ltd, now the owner of global rights for the lube brand Veedol, has set up subsidiary in the Netherlands -- Veedol International BV – to re-launch the branded products in Europe. Tide Water, which earlier only had the rights to the iconic brand for India, acquired Veedol International Ltd, UK, from BP plc in October 2011 along with the brand rights, its logos and sub brands in 126 countries.
Rajendra Nath Ghosal, MD of Tide Water, told Business Line that the company was in the process of OEM approvals from leading European automobile makers, especially those from Germany. Until recently, the brand was popular with the European car manufacturers and was the preferred choice. It has also finalised a contract manufacturing arrangement with a leading Rotterdam-based lube blender.
“Arrangements have been finalised with a distribution and logistic company for Germany, Austria and Switzerland”, Ghosal said. Strategically, located in Amsterdam, Veedol International BV, will spearhead Tide Water’s northern European re-entry.