Hi-Tech Lubricants Limited, the renowned manufacturer of ZIC Brand Lubricants in collaboration 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, according to a notice to the Pakistan Stock Exchange (PSX).
The agreement aims to establish Hardee’s Restaurants at Hi-Tech Lubricants’ nationwide network of HTL Fuel Stations, marking a significant expansion of Hardee’s brand across Pakistan.
This partnership was formalized through the signing of a Memorandum of Understanding (MOU) on August 28, 2024.
The principal activity of the Company is to procure and distribute lubricants and petroleum products. During the year ended 30 June 2017, Oil and Gas Regulatory Authority (OGRA) granted license to the Company to establish an Oil Marketing Company (OMC), subject to some conditions. On 31 May 2019, Oil and Gas Regulatory Authority (OGRA) granted permission to the Company to operate a new storage facility at Sahiwal and marketing of petroleum products in the province of Punjab.
HTL’s scrip at the bourse is currently trading at Rs. 40.50, up by 2.87 percent, with a turnover of 4.6 million shares on Thursday.