Belgium's Arteco expands to Asia, Africa and Middle East

16 February 2009 12:32  [Source: ICIS news]

LONDON (ICIS news)--Belgium-based Arteco will extend its European antifreeze coolant operations to include Asia, Africa and the Middle East, the company said on Monday.

“We are very pleased with this, especially with the extension of our geographical area,” a company source said.

“This territory expansion represents a significant source of growth for Arteco,” Guy Coussamant, general manger of Arteco, said in a letter to customers on 13 February.

Total and Chevron, Arteco’s shareholders, made the decision on 6 February, according to the letter.

Arteco was created in 1998 when Elf and Texaco agreed to join forces on the development, production and sales of antifreeze coolants, the letter said. Since then, both parent companies merged respectively with Total and Chevron, but this has not influenced the shareholding structure of Arteco NV.

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By: Caroline Howard
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