I think this site is too quiet! Moving up nicely off the base and in BusinessWeek this week. More news;
HOUSTON, Apr 30, 2001 /PRNewswire via COMTEX/ -- Pennzoil-Quaker State Company
(NYSE: PZL) announced today that it has completed the sale of its Shreveport,
Louisiana refinery and related assets to Calumet Lubricants Company, L.P.
Financial terms of the transaction were not disclosed.
"This is truly a transformational day for Pennzoil-Quaker State Company. With
this transaction, we have essentially completed our program to sell
non-strategic assets and businesses. We now go forward as the fully-focused
automotive consumer products company that was envisioned with the formation of
the company in 1998," said James J. Postl, president and chief executive
officer.
Calumet Lubricants Company, L.P. has headquarters in Indianapolis, Indiana. The
company was founded in 1916 with the goal of producing the highest quality
naphthenic specialty oils available. Today it operates specialty plants in
Princeton, Cotton Valley, Louisiana and Rouseville, Pennsylvania, producing
Hydrocal II Naphthenic Base Oils, Calsol process oils, waxes and a diverse array
of solvents and specialty products.
Pennzoil-Quaker State Company is a leading worldwide automotive consumer
products company, marketing over 1,300 products with 20 leading brands in more
than 90 countries. The company markets Pennzoil(R) and Quaker State(R) brand
motor oils, the number one and number two selling motor oils in the United
States. Jiffy Lube, a wholly owned subsidiary of Pennzoil-Quaker State Company,
is the world's largest fast lube operator and franchiser. For more information
about Pennzoil-Quaker State Company, visit its web site at
pennzoil-quakerstate.com. |
