Top One silent on new Jamaican lubricant partner
Island Lubes Distributors, which was selected by Top One Oil Products, USA, as master distributor in Jamaica for its line of lubricants, says it will going after about one-fifth of the lubricants market, which he estimated at 91,000 barrels.
Top One itself is also moving to have its Top 1 products manufactured here under licence, through partner LSC Jamaica Limited - an unknown operation - saying Jamaica will be both a manufacturing and distributing centre.
The American company was mum on the LSC Jamaica partnership, saying "we prefer not to speak much on LSC at this time" via email that quoted president of Top One, Joseph Ryan.
John Levy, a director of Island Lubes, says the Top 1 brand is inclusive of lubricants and greases for the automotive, commercial and industrial markets. Island Lube is two years old and serves the retail, commercial, industrial, mining, and agricultural sectors.
Levy declined to disclose the value of his Top One deal. He said Island Lubes would be first distributor for Top 1 lubricants in Jamaica.
"Our ambition is to achieve 15-20 per cent of the total lubricant market by year two," he said. "Our primary market is the transport sector, which comprises of automotive, light- and heavy-duty vehicles. Our secondary markets are agriculture and mining."
At Levy's estimate of the market size, 91,000 barrels, Island Lubes would be aiming for sale volumes equivalent to 13,000 to 18,000 barrels.
Formed in 1979, Top One is an exporter of lubricants into Asian and Latin American countries. Within the region, its products are marketed in 13 countries starting with Ecuador where it has been for 14 years. The others are Guatemala, Nicaragua, Honduras, Panama, Costa Rica, Jamaica , Dominican Republic, Columbia, Peru, Chile, Paraguay and Uruguay.
Top One has a Jamaican office which is located in Kingston. The company was due last night to launch a new product for distribution locally, the Top 1 Formula-1.