$15 million tender secured for Submersible Turbine Pumps to support Indian Oil Corporation Ltd. (IOCL) growth goals

RALEIGH, N.C., November 12, 2024--(BUSINESS WIRE)--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 business and the worldwide technology leader for retail and commercial fueling operations, has secured a second significant tender with Indian Oil Corporation (IOCL) since September. The latest tender with IOCL is for $15 million for Veeder-Root branded Red Jacket^® submersible turbine pumps, used in fuel tanks to pump fuel quickly, efficiently and safely.

Product delivery will begin soon across IOCL’s retail sites throughout India and will continue over the next 12 months. The news follows Vontier and GVR’s September announcement of a tender with IOCL for the supply of retail fuel dispensers and services.

"We are excited to partner with IOCL to help provide a complete set of solutions for their retail outlets," said Viswanath Devarajan, Managing Director at Gilbarco Veeder-Root 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 IOCL:

Indian Oil Corporation Limited (Indian Oil) is a leading force in the global energy sector. As a diversified and integrated energy major, Indian Oil spans across oil, gas, petrochemicals, and alternative energy sources. Indian Oil excels in harnessing energy responsibly and delivering it to consumers with remarkable affordability.

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 business, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241112826677/en/

Contacts

For more information, contact:
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