RUBIS TAKES OVER TOTAL LPG DISTRIBUTION BUSINESSIN SWITZERLAND
Through its affiliate Vitogaz Switzerland, RUBIS takes over the local TOTAL LPG distribution business.
This transaction will thus help Rubis to build up its already well-established presence in cylinders, a high value added market segment, and densifies its position in the growing bulk segment. Acquired assets consist of a pool of LPG cylinders distributed directly to end-users or via a network of distributors, tanks dedicated to bulk delivery under contracts with customers, and the associated technical centers.
Globally, this transaction adds up 15% volumes to Rubis existing LPG volumes in Switzerland, traded under Vitogaz brandname, building up its leadership position with annual 55,000 tons. Both operational and logistical optimisations will be promptly implemented.
This transaction will have a positive impact on Rubis’ profit at completion which is expected to take place on September 30, 2014.
After having successively acquired SHELL operations in 2007, LINDE cylinders business in 2010 and the specialty gases distributor Multigas in 2013, this latest development shows Rubis deep commitment in Switzerland while it clearly fits into the niche market strategy favored by the Group.
2014 Half-year results: August 29, 2014 (at Bourse closing)
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