BRS, PSP, VSK forge strategic lubricants partnership in ASEAN
Three prominent Thai companies—Boon Rawd Supply Chain Co., Ltd. (BRS), P.S.P. Specialties Public Company Limited (PSP), and W. Sirikan Auto Parts Co., Ltd. (VSK)—have entered into a strategic partnership, underscoring their commitment to enhancing the automotive and industrial sectors. The collaboration was formalised with the signing of a memorandum of understanding (MOU) on September 6, 2023, marking a significant step towards the joint development and sale of specialised automotive and industrial lubricants.
BRS, known for its integrated supply chain solutions and logistics services, joins forces with PSP, a key player in the ASEAN lubricant market, and VSK, a leader in automotive spare parts and engine oil distribution. The alliance aims to leverage the combined strengths of the three Thai companies to foster innovation, enhance cost efficiency, and drive competitive advantage in the manufacturing, logistics, and automotive industries.
The MOU outlines the collaborative effort to develop and market a diverse range of products, including engine and industrial machine lubricants, grease, brake fluid, gear oil, and hydraulic oil, among others. The partnership is strategically positioned to capitalise on the expansive customer base and business alliances of each company, ensuring a comprehensive approach to meeting the diverse needs of various industrial sectors.
Wasa Kosatat, CEO of BRS, emphasised the company’s robust supply chain and logistics network, extending both in Thailand and across the ASEAN region. The partnership with PSP and VSK is integral to BRS’s long-term growth strategy, aimed at bolstering the competitive capability of target industries.
Seksan Krongphanit, Deputy CEO of PSP, highlighted the lucrative Thai lubricant product market, valued at more than BHT50 billion (USD). The MOU signing post-PSP’s stock exchange listing signifies a strategic collaboration with BRS and VSK, aimed at fostering integrated growth by building on each partner’s strengths and business bases.
Chukiat Chantachotibut, deputy managing director of VSK, noted the company’s role as a distributor of automobile and commercial vehicle products and spare parts. The alliance with BRS and PSP is pivotal in driving sustainable market growth, leveraging the collective expertise of the three business leaders in their respective fields.
The partnership underscores a shared vision to elevate the level of full-service integration, driving innovation and competitive advantage in a market characterised by continuous growth. The alliance is poised to navigate the dynamic landscape of the automotive and industrial sectors, marking a significant stride towards integrated business operations and sustainable growth.