SUCCESS STORY
Sahil Bhargava of IFP Petro
In 2022, IFP Petro approached trAIDe with the aim of gaining a deeper understanding of German culture and technology and finding a technology partner from Germany in the field of used lubricating oil regeneration. Another main objective was to establish a joint venture with a German company focussing on the reprocessing of used lubricating oils and the circular economy in lubricants.
Initial situation:
IFP Petro, founded in 1977 and based in Ghaziabad, U.P., India, is a renowned player in India’s circular economy with an annual turnover of €20.4 million in FY 2021-22, specialising in the recycling of used lubricating oils. With 50+ employees and over 45 years of experience, the company is not only a globally registered supplier of Shell but also the only private supplier to the Indian Railways and among the top 3 lubricant suppliers in India. Led by a visionary leader, the world’s first female recycler, IFP is characterised by its strategically advantageous location in North India and an exclusive partnership with Shell for used oil collection.
What we did:
Through customised coaching and tutoring sessions with the trAIDe team, IFP Petro was able to optimally prepare for trade fairs, including selecting potential B2B meetings and preparing for meetings with German business partners. Thanks to the “How to win over a German business partner” training, pitching for German business partners was perfected. This enabled IFP Petro to clearly communicate their objectives in a short space of time, which was particularly invaluable at the ACHEMA trade fair in Frankfurt. There, they were able to identify and convince numerous potential partners in just two days. Visiting companies such as Krückemeyer enabled a deeper understanding of German business culture, particularly in relation to family businesses, which is of great importance to IFP Petro.
Results:
As a direct result of this intensive collaboration and preparation, IFP Petro was able to form a formal strategic partnership with German company AVISTA OIL AG in 2023. A Memorandum of Understanding (MoU) has been signed, with long-term plans for a joint venture. The contracts concluded as part of this programme are expected to reach a volume of around EUR 80-100 million by 2025, which could create or maintain up to 500 jobs.
The collaboration with AVISTA OIL has not only increased the brand value of IFP Petro, but has also brought international recognition, facilitated discussions with global partners and attracted the interest of the Indian government. Moreover, the technology upgrade after implementing the collaboration with AVISTA OIL will lead to increased production of refined lubricants that are recognised in the global market.
This use case underlines the unparalleled value of trAIDe’s customised services for companies looking to expand internationally and establish themselves in new markets.
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