$27 million tender secured for dispensers and services to support Indian Oil Corporation Ltd. (IOCL), showcasing company’s expanding footprint in India to support country’s ambitious growth goals
RALEIGH, N.C.--(BUSINESS WIRE)--Sep. 10, 2024--
Vontier Corporation (NYSE: VNT), a leading global provider of critical technologies and solutions to connect, manage and scale the mobility ecosystem, announced today that Gilbarco Veeder-Root (GVR), a Vontier company and the worldwide technology leader for retail and commercial fueling operations, has secured a second significant tender with Indian companies since August. The latest tender is from Indian Oil Corporation Limited (IOCL), where GVR has secured a large position for retail fuel dispensers for a total of $17 million in equipment and $10 million in services support.
Product delivery will begin soon across IOCL’s retail sites throughout India and will continue over the next twelve months; services will continue for eight years. The news follows Vontier and Gilbarco Veeder-Root's announcement of a $59 million tender with India’s Hindustan Petroleum Corporation Limited (HPCL) last month.
"We are excited to partner with IOCL to help provide the critical infrastructure needed to support India’s ambitious growth goals,” said Viswanath Devarajan, Managing Director at Gilbarco Veeder-Root India. “IOCL wanted to provide its customers with the most dependable dispensers with up-to-date technology, safety, security and efficiency benefits, and we look forward to delivering these dispensers and proving our continued commitment to India.”
Gilbarco Veeder-Root has been present in India since 1955. The company’s main manufacturing facility in Coimbatore produces retail and commercial fueling solutions for India and the world. Invenco by GVR, another Vontier company, also recently opened a software development center in Bengaluru for the company’s growing global and India software needs, further demonstrating its commitment and long-term investments in India.
About Vontier:
Vontier (NYSE: VNT) is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier enables the way the world moves – delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. Additional information about Vontier is available on the Company’s website at www.vontier.com.
About Gilbarco Veeder-Root:
Gilbarco Veeder-Root, a Vontier company, is the worldwide technology leader for retail and commercial fueling operations, offering the broadest range of integrated solutions from the forecourt to the convenience store and head office. For over 150 years, Gilbarco has earned the trust of its customers by providing long-term partnership, uncompromising support, and proven reliability. Major product lines include fuel dispensers, tank gauges and fleet management systems. For more information, please visit: www.gilbarco.com.
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https://www.businesswire.com/news/home/20240910295941/en/
Media Relations contact:
Marty Hanna, Vice President, Communications
Vontier Corporation
Martin.hanna@vontier.com
Investor Relations contact:
Ryan Edelman, Vice President, Investor Relations
Vontier Corporation
Ryan.edelman@vontier.com
Source: Vontier Corporation
