ORLEN Deutschland purchased 56 stations from OMV Deutschland
Today, ORLEN Deutschland GmbH and OMV Deutschland GmbH have signed an agreement for ORLEN's purchase of 56 service stations of OMV's network, located in Thuringia and Saxony. Thus the German member company of the ORLEN Group has entered the markets of further two federal states. Following the transaction, the ORLEN Deutschland network will comprise 574 service stations.
- The acquisition of a material portfolio of service stations in Germany, where such transactions are far from ordinary, is a major success. While the German market is demanding and well penetrated by the fuel industry, ORLEN Deutschland maintains the strong growth of its sales - said Mr Jacek Krawiec, President of the Management Board of PKN ORLEN. - The transaction is yet another proof that our long-term strategy of developing of the German assets is proving itself in practice. The purchase of new stations will strengthen ORLEN Deutschland's market position and enable it to further improve the company's performance - added Mr. Krawiec.
Out of the 56 stations, over 40 are located in Saxony. Almost all of the acquired service stations operate along heavy-traffic roads, and more than a half of them are in urban centres.
- Our plan is to continuously develop and grow profitability, with a consistently improving offering for our customers. This way we are laying a robust foundation for a long-term success, while also creating new jobs. The addition of these stations to the network will strengthen our structure and help us achieve our objectives – said Mr Józef Niedworok, President of the Management Board of ORLEN Deutschland GmbH.
As a result of the transaction, both parties, ORLEN and OMV, are now able to successfully pursue their strategic objectives in a long run. Both agents operating the purchased stations and customers will benefit from the transaction, because the stations will operate under the strong and modern brand STAR, with a proven track record on the German market.
PKN ORLEN expects the German Antitrust Office will quickly clear the acquisition. The actual takeover of the stations by ORLEN Deutschland will take place upon the obtainment of the necessary approvals.
The rebranding of individual stations from OMV to STAR will commence probably in Q1 2011, on a case by case basis, when all legal matters are settled.
ORLEN Deutschland GmbH
ORLEN Deutschland GmbH has operated since 2003 a retail network, which currently comprises 518 service stations, mainly under Star brand, located in the northern part of Germany. The company, based in Elmshorn near Hamburg posted revenue of EUR 2.55 bn in 2009.
ORLEN Deutschland is a part of the ORLEN Group. PKN ORLEN SA, the parent company, with EUR 15.7bn in revenue in 2009, ranked as the largest company in Central and Eastern Europe. PKN ORLEN is listed on the Warsaw and London Stock Exchanges. PKN ORLEN manages seven refineries in Poland, the Czech Republic and Lithuania. The company also operates nearly 2,600 service stations in such countries as Poland, the Czech Republic, Germany and Lithuania. For further information on PKN ORLEN and ORLEN Deutschland, see www.orlen-deutschland.de and www.orlen.pl.
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