Puma completes Chevron acquisition in Vietnam
1 November 2012 - Global mid and downstream energy company Puma Energy has today completed the acquisition of Chevron Kuo Pte Ltd, a Singapore entity which owns 70% of Chevron Bitumen Vietnam Limited “CBVL”. The new company will be called Puma Energy Bitumen Vietnam Ltd and within three months the company’s assets will be rebranded Puma Energy.
Commenting on today’s completion, Pierre Eladari, Puma Energy's Chief Executive Officer said: "Puma Energy is quickly becoming a global marketer of bitumen. Our investment in logistics operations and in our bitumen terminals in Spain, Africa, Central America and now Vietnam will help us to deliver ambitious growth in sales volumes.”
Puma Energy Bitumen Vietnam Ltd imports, stores and distributes asphalt for road building and infrastructure developments in Vietnam. The company's assets include Hai Phong terminal which has wharf facilities with a state-of-the-art bitumen storage terminal with a capacity of 5,000 metric tons and the management of a bitumen distribution business around Hanoi and Ho Chi Minh City. The 35 members of staff have transitioned to the new business.
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