On November 9, Sinochem Lantian Co., Ltd. and SK Lubricants signed a strategic cooperation agreement in Hangzhou. This signified the official entering into the national medium and high-end lubricant market for Sinochem Lantian and its new phase in the auto chemical business. It was believed that collaboration with SK would help Lantian throughout the entire industrial chain, from lubricant base oil to the final car owner lubricant, enabling consumers to enjoy clean and energy-saving lubricant products.
Sinochem Lantian entered into auto post-service market in 2008. Ever since then, its subsidiary Jincool (the refrigerant manufacturer) has entered into partnership with over 80% auto factories and air-conditioning businesses, securing a predominant market share. In 2015, Sinochem Lantian extended its production line to more areas of vehicle chemicals. SK Group has more than 40% market share in the world in the lubricant upstream base oil, especially in the three kinds of synthetic base oil sector. Its three kinds and three kinds+ oil such as YUBASE, YUBASE＋ are leading the global high-end base oil sector.