Sri Lanka LPG vendor cuts deal with Bharat Petroleum

Jan 05, 2011 (LBO) - Sri Lankan liquid petroleum gas distributor Laugfs Gas has struck a deal with India's Bharat Petroleum Corporation (BPCL) to sell metal cutting gas in the island, a stock exchange filing said.

The new product will be sold under the brand name 'Laugfs Bharat Metal Cutting Gas' (LMBG), it said.

"Laugfs Gas will have to pay quarterly under the agreement only a royalty fee to Bharat Petroleum Corporation of 250 US dollars a metric tonne or part thereof on LMBG sold under the license from BPCL," it said.

Laugfs Gas will launch the product with the technical and operational collaboration of BPCL.

The statement claimed the new product is an economical and safer metal cutting gas substitute for acetylene.

source - www.lbo.lk