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Press release 12 December 2006
ExxonMobil Sells Fuels Marketing Business
in Finland to SOK Corporation
Exxon Mobil Corporation and SOK Corporation today announced
that an agreement has been signed for the sale of shares of
the fuels marketing affiliate oy Esso Ab in Finland to SOK
Corporation. The transaction remains subject to approval of
the relevant authorities.
The agreement covers the fuels businesses in the retail,
industrial, home heat, LPG and aviation markets. The The Esso
network consists of about 200 retail outlets and truck filling
points. Oy Esso ab's annual sales revenue amounts to EUR 450
million and its overall fuels market share is 10%. The company
employs in total 173 people in the fuels businesses.
On completion, as this is a sale of shares, all contractual
and commercial terms of the company, as well as existing employment
contracts, will remain valid.
ExxonMobil will continue to operate a significant lubricants
and specialties business in Finland through its affiliate
Mobil Oil oy ab. Also the bitumen and chemical businesses
will be retained by ExxonMobil.
- This purchase will help S Group to improve the services
for the members of the co-operatives especially in the southern
parts of Finland, says the CEO of SOK Kari Neilimo.
The plan of SOK Corporation is to sell the supply and distribution
operations for fuel products to SOK Corporation's subsidiary
North European Oil Trade Oy. Via the deal, SOK Corporation
will ensure efficient supply in the fuels business.
For further information, please contact:
SOK Corporation:
Kari Neilimo, SOK,Chief Executive Officer, tel. + 358 10 76
80200, kari.neilimo@sok.fi
Heikki Strandén, SOK, Senior Vice President, ABC chain
management, + 358 10 76 80800, heikki.stranden@sok.fi
Oy Esso ab:
Sakari Toivola, CEO oy Esso ab; tel. +358 10 557 2310; sakari.toivola@exxonmobil.com
The S Group comprises of the cooperative enterprises and
SOK (Suomen Osuuskauppojen Keskuskunta) with its subsidiaries.
The S Group provides services for the supermarket, service
station store and fuel trade, the department store and speciality
store trade, the hotel and restaurant business, the vehicle
and automotive accessories and agricultural trade. S Group's
retail sales are estimated to be EUR 9,800 million this year.
S Group as a whole employs approx. 32,000 people. More on
www.s-kanava.fi
North European Oil Trade Oy (NEOT) is a fuel procurement
company that is jointly owned by SOK and Greeni Oy. The aim
of the company is to create a relative competitive edge for
its customers including ABC chain.
S Group's ABC chain comprises of 80 service station stores
and 201 unmanned stations. The strategic goal is to expand
the ABC chain to service S-group members across the whole
of Finland.
ExxonMobil is a global industry leader in the energy and
petrochemical business with annual revenues of USD 360 billion
and 83,000 employees worldwide. Its global activities comprise
the range from the exploration and production of oil and gas
to the manufacturing and marketing of fuels, lubricants and
chemical products. More on www.exxonmobil.com
>>
Further information about the S Group

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