- Corporate News
Sri Lanka’s state-owned corporation launches automotive coolant from South Korea
Sri Lanka State Trading (General) Corporation Ltd. (STC ), a government owned company, has partnered with South Korea’s SG Industry to launch an automotive coolant in the Sri Lankan market.
STC operates in various industries similar to a conglomerate in Sri Lanka, offering various products and services ranging from household equipment to industrial machinery, industrial chemicals, agricultural tools and equipment, tyre and batteries, etc.
Sri Lanka’s Industry and Commerce Minister, Rishad Bathiudeen, who was present during the product launch said that the Bio Car Vita coolant is the latest addition in the product expansion efforts of STC, in line with STC’s vision of becoming the “National Business Leader” in Sri Lanka’s diversified goods and services supply chain, by representing reputed and trusted brands to fulfil the needs of our state sector institutions.”
“Despite stiff competition from private sector giants in the market, STC has increased its revenues five times over the last five years,” the minister said.
“We are pleased to introduce Bio Car Vita to [the] Sri Lankan market through STC,” said SG Industry CEO Soo Young.