02 July 2010 21:06 [Source: ICIS news]
SRD has a 300,000 tonne/year specialty refinery unit at ?xml:namespace>
As part of the acquisition, ExxonMobil would provide the refinery with technical assistance for three years, Colas said.
Also, the refinery would benefit from a processing contract with Total that would cover 40% of its production until the end of 2012, it said.
The refinery’s site director and its technical director, currently ExxonMobil employees, would join Colas and remain in their current positions, it added.
The acquisition was in line with Colas’ strategy to secure its bitumen requirements for
Financial terms were not disclosed.
Total first announced its intention to dispose of SRD in February last year. ExxonMobil was SRD's majority owner while Total held 40%, according to information on Total’s website.
Colas, with over 70,000 employees in 40 countries, is described as a leading builder of roads, as well as air, rail and maritime transport infrastructure.
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