Indian Oil signs MoU with Timken India

Indian Oil Corporation (IOC) has signed a memorandum of understanding (MoU) with Timken India to manufacture and market Timken premium automotive grease.

"As per the agreement, the grease, manufactured by IOC, would be marketed by Timken India for after-market distribution through its established network," an official release from Indian Oil said today.

Timken India is a wholly-owned subsidiary of US-based Timken Company, and has a world-class manufacturing facility in Jamshedpur and a state-of-the-art global engineering and research facilty in Bangalore.

"It is a perfect business partnership as both the companies are leaders in their own fields," Shyamal K Sinha, deputy managing director of Timken India, said.

The grease is a lithium complex grease of high consistency and provides excellent protection against rust, resists water washout and provides longer life to vehicle parts, the release added.