10 October 2011 17:04 [Source: ICIS news]
LONDON (ICIS)--France’s Total is responding to business changes and a competitive market by reorganising and developing its refining, marketing and chemicals operations, the chemical producer said on Monday.
The reorganisation will involve two new business divisions that will focus on production and marketing to reinforce existing activities and strengthen prospects for growth.
A second division will be dedicated to the global supply and marketing of petroleum products, the company added.
Total said it intends to strengthen its production position in Europe through increasing product value, enhancing energy efficiency and reliability at its production units, and developing large-scale integrated projects to more effectively meet demand in growth markets.
“It will give our production and marketing activities a clearer vision, allowing them to improve their performance in mature markets and address specific challenges as they seek to expand, especially in growth markets,” CEO Christophe de Margerie said.
The company added that the reorganisation will not result in an outplacement plan or layoffs.
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