LUBRICANTS supplier Castrol (Hong Kong) has changed its name to Castrol (China) to refect the company's changing focus. Castrol (China) managing director James Wood said the annual growth rate of its business in the territory in recent years had dropped by half, from 20 per cent to some 10 per cent, because of the booming industrial sector in China. ''Our clients are mainly local manufacturers. Many of them have moved their businesses to the Pearl River delta,'' said Mr Wood. This trend by local manufacturers of moving their businesses north has prompted Castrol to consider the China market as a long-term goal. ''Marine and heavy industry are the key market sectors for Castrol in China at present, but we are also seeing continuous growth in sales to the consumer,'' said Mr Wood. While Castrol's main office will remain in Hong Kong, the company is negotiating investment opportunities in the form of joint ventures in northern China. It has representative offices in Guangzhou, Shanghai and Dongguan to support its mainland distributors.
