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  • A massive leap forward for Engen’s African expansion programme
    édité le 14/12/2010 - Plus de news de "Engen" - Voir la fiche entreprise de "Engen"

A massive leap forward for Engen’s African expansion programme
African downstream petroleum marketer Engen has taken a giant leap forward with its expansion programme this week as it concluded three deals in a batch of seven agreements to acquire some of Chevron’s interests in Sub-Saharan Africa and the Indian Ocean Islands.

The company operates exclusively in these regions in terms of its EPIC 2016 vision and strategy for growth. These deals see Engen enter new territory in Reunion and Malawi, while strengthening its presence in Zambia. The deals for Chevron’s interests in Zimbabwe, Mozambique, Tanzania and Mauritius are still subject to all the relevant in-country regulatory and legislative conditions.

“These acquisitions represent major progress in our vision for mutually-beneficial sustainable growth in the region,” says Nizam Salleh, Managing Director and CEO of Engen Petroleum Limited. “It will benefit the common causes of our company and the countries involved. We are delighted to welcome them into the Engen fold.”

“We are looking forward to welcoming all staff into Team Engen,” says Wayne Hartmann, General Manager, Engen International Business Division. “We are very excited about the deals and look forward to building up the respective businesses, harnessing the expertise and potential of our staff, and contributing to the economies of these countries.”

He says the broader Engen group has committed to supporting the affiliates. “Engen combines a proud record of operational excellence and dynamism with a strong commitment to the economies, communities and environments in which we operate.”

Existing presence

Engen will take over Chevron’s retail networks and commercial operations in the three countries and will embark on the re-imaging of service stations as soon as is practicably possible.

Hartmann assures staff, motorists and business partners that the business operations, retail and commercial networks, logistics and storage arrangements will continue as before. “Operations will carry on trading as going concerns; existing staff and relationships will be retained; and in-country supply plans have been developed to ensure uninterrupted product and service supply.”

The Zambian acquisition builds significantly on Engen’s presence in the country since 1999. The acquisition comprises 24 service stations, commercial customers, as well as a bulk fuel depot and lubricants warehouse. Engen currently markets fuels, lubricants, bitumen and chemicals in Zambia through 10 service stations (additional 2 currently under construction), a commercial customer base and a recently constructed fuels depot, lubes warehouse and offices in Lusaka.

The Réunion operation has a network of 32 retail service stations, as well as commercial business relationships, lubricant sales and bulk fuels storage facilities.

The Malawi operation has a network of 16 retail service stations, as well as commercial business relationships, lubricant sales and bulk fuels storage facilities.

Origine : Communiqué Engen

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