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Caltex Australia Ltd Enters Into Conditional Agreement To Sell Sydney Bitumen Business To Trafigura Beheer BV's Puma Energy


Monday, 14 Oct 2013 06:43pm EDT 

Caltex Australia Ltd announced that it has entered into a conditional agreement to sell its Sydney-based import bitumen business to Puma Energy, a subsidiary of Trafigura Beheer BV, the terms of which are confidential. Bitumen is a by-product of the refining process and in 2010, after the announcement to close its base oil refinery at Kurnel, Caltex implemented a new bitumen import supply chain to enable supply to be maintained to the New South Wales road construction industry. This business included an agreement with Terminals Pty Ltd to build a nd operate the purpose built Port Botany Bitumen Terminal for Caltex, and a partnership with SAMI Bitumen Technologies in a n oxidation and in-line blending facility. The sale, which remains subject to a range of conditions being met (including Foreign Investment Review Board approval), is planned for completion by the end of 2013. 

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28.49
0.58 +2.08%
29 Aug 2014