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  • CEPSA and TOTAL combine their activities in Portugal
    édité le 11/04/2008 - Plus de news de "CEPSA" - Voir la fiche entreprise de "CEPSA"

CEPSA and TOTAL combine their activities in Portugal
CEPSA and TOTAL have reached an agreement to combine their activities in Portugal, which will lead to the creation of one of the key players on the Portuguese market.

This Agreement envisages the acquisition of TOTAL’s retail network and the marketing, by CEPSA in Portugal, of TOTAL and ELF brand lubricants and other petroleum products. • The deal will significantly enhance commercial offerings and logistical positions on the Iberian Peninsula, chiefly as a result of both the integration of TOTAL’s 141 retail sites in Portugal into CEPSA’s network of over 1,650 service stations and the strong position achieved in the asphalt and lubricant markets. CEPSA has reached an agreement with TOTAL to acquire its retail network as well as its petroleum product marketing activities in Portugal. The combination of these complementary activities, due to their location and positioning, will create one of the key players in the Portuguese market, with a share of approximately 11%. The new service station network, merging the current networks of TOTAL (141) and CEPSA (161), will now number 302 retail sites and operate under the dual brand CEPSA/TOTAL. Additionally, under the terms of this Agreement, CEPSA in Portugal will sell, apart from its own brands, the TOTAL and ELF brands of lubricants and other petroleum products which until now were marketed by TOTAL. The increase in business volume will boost synergies from the already-existing integration of activities on the Iberian Peninsula, with the resulting improvement in earnings growth and profitability needed to drive and develop these businesses in the future. Specifically, it will lead to a decline in operating costs, an optimization and streamlining of supply and logistics and a more balanced commercial management in terms of geographical presence and sales channels. CEPSA has been present in Portugal for over 40 years and this presence was further reinforced in 1991 with the addition of the La Rábida Refinery in Huelva, providing closer geographical proximity of the company’s production facilities and logistical infrastructures. CEPSA currently sells motor and other fuels, lubricants, LPG (butane and propane) and asphalt in Portugal, and has recently started distributing bunker and aviation fuels. It also owns supply and storage facilities, including a depot located in Matosinhos, near Oporto.

Origine : Communiqué CEPSA

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