TORONTO, Ont. -- Wakefield Canada has inked a deal to purchase a Toronto-based Castrol blending and packaging plant from BP Lubricants.
As per the agreement, Wakefield will assume ownership and manufacturing responsibilities for the plant, where it will blend and package most Castrol products for the Canadian market. Wakefield will maintain its exclusive sales, marketing and distribution rights for Castrol commercial lubricants in Canada, the company announced.
"BP believes that this alliance will provide the opportunity to combine the global technology and marketing leadership of BP with the local entrepreneurial capabilities of Wakefield," Wakefield Canada said in a release. "This alliance will ensure the continuing success of the Castrol brand, which is already a market leader in the intensely competitive Canadian automotive lubricant market."
Bob MacDonald, president and CEO of Wakefield, added "We intend to deliver on our aspiration to be the clear leaders in the Canadian marketplace. This is a strategic move for Wakefield and provides us with greater flexibility to deliver intuitive customer service within the Canadian marketplace."
The plant is now in a transitional period and BP Lubricants will retain ownership and operations responsibilities until the transition is completed in mid-2010, the companies report.
Wakefield first signed a strategic partnership with BP Lubricants in 2005 and has since marketed Castrol lubricants and services to the Canadian market. For more info, visit http://www.wakefieldcanada.ca/ or call 888-CASTROL.