Idemitsu terminates marketing pact with India's Savita

India’s Savita Oil Technologies Ltd. said Japan’s Idemitsu Kosan Co. Ltd. has decided to terminate a marketing pact between the two companies for the latter’s products . “This termination is to take effect 180 days from the date of the notice, which Savita received on October 13. However, the Mumbai-based lubricant blender has the right to continue manufacturing and marketing Idemitsu’s lubricant products for three years after the expiry of the 180-day period. Termination of the pact will impact Savita Oil only to the extent of a maximum 2% of its total revenues for the year ended March, the company said. Also, the technical collaboration agreement between Savita Oil and Idemitsu will continue. Savita Oil’s marketing agreement with Idemitsu’s Indian subsidiary, Idemitsu Lube India Pvt Ltd, was forged in November 2006. (October 14, 2011)