In celebration of its 125th anniversary, Castrol has announced plans it holds for the following year to commemorate the milestone in a recent press release.
In addition to a special 125th-anniversary logo that will be used throughout 2024, the company will implement what it’s calling an “onward, upward, forward” strategy to improve efficiency and company growth for the next year.
With each term intended to represent goals for 2024, “onward” includes improving upon the company’s mobility solutions and utilizing circular products more, such as re-using base oils, the main constituent ingredient in lubricants. The company’s lineup of advanced Castrol ON EV Fluids is also cited as an example of the “onward” segment of 2024’s strategy.
“Upward” refers to an effort to maximize equipment used by the company’s industrial customers, following a partnership made last year with SKF that allowed for the reuse of lubricant fluid in the metalworking industry.
The final part of the strategy, “forward,” will encapsulate opportunities for the company to expand into new markets, with immersion cooling fluids for data center operations highlighted as the most likely course of action for Castrol.
“We’re developing more circular offers to help customers achieve their sustainability goals and exploring exciting new growth opportunities beyond lubricants,” stated Castrol CEO Michelle Jou. “It’s a privilege to take Castrol’s 125-year-old iconic brand forward to serve the changing needs of customers and set our business up for future success.”
