Swiss Puma Energy completes acquisition of Chevron Kuo

01 November 2012 06:24  [Source: ICIS news]

SINGAPORE (ICIS)--Switzerland-based Puma Energy has completed the acquisition of Singapore-based energy company Chevron Kuo, Puma Energy said in a statement on Thursday.

Chevron Kuo owns 70% of Chevron Bitumen Vietnam Ltd (CBVL).

Chevron Kuo will be named Puma Energy Bitumen Vietnam and the company’s assets will be rebranded as Puma Energy's within three months, the statement said.

The assets include Hai Phong terminal, which has wharf facilities with a bitumen storage terminal that has a capacity of 5,000 tonnes, and the management of a bitumen distribution business in Hanoi and Ho Chi Minh, the company added.

“Puma Energy is quickly becoming a global marketer of bitumen. Our investment in logistics operations and in our bitumen terminals in Spain, Africa, Central America and now Vietnam will help us to deliver ambitious growth in sales volumes,” said Puma Energy CEO Pierre Eladari.

By: Surinder Malhi
+65 6780 4327

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