Islamabad, Aug 29: According to a notice to the Pakistan Stock Exchange (PSX), Hi-Tech Lubricants Limited, the well-known producer of ZIC Brand Lubricants in partnership with SK Enmove Co. Ltd. from South Korea, has announced a strategic partnership with MDS Foods (Pvt.) Ltd., the territorial rights holder of the American fast-food giant, Hardee’s Restaurant.
By establishing Hardee’s Restaurants at Hi-Tech Lubricants’ extensive statewide network of HTL Fuel Stations, the deal seeks to significantly expand the Hardee’s brand throughout Pakistan.
On August 28, 2024, a Memorandum of Understanding (MOU) was signed, formalizing this collaboration.
The Company’s main business is the acquisition and distribution of petroleum products and lubricants. Subject to certain requirements, the Oil and Gas Regulatory Authority (OGRA) authorized the Company to create an Oil
Marketing Company (OMC) during the year that concluded on June 30, 2017. The company was given authorization by the Oil and Gas Regulatory Authority (OGRA) on May 31, 2019, to run a new storage facility in Sahiwal and market petroleum products in the Punjab province.
HTL’s share price on the exchange is presently up 2.87 percent at Rs. 40.50, with 4.6 million shares traded on Thursday.
