Takeover in gas

Caltex and Origin were to sign the agreement for an undisclosed amount today, with the new arrangement as a purely-Origin subsidiary beginning on March 31 after 14 years as a joint venture.

Rockgas general manager Owen Poole said the $80 million-turnover business expected continued 15% annual growth in the industrial, commercial and domestic sectors, although automotive LPG demand remained flat.

However, Rockgas would remain Caltex's preferred supplier.

Poole said Rockgas serviced 300 bulk industrial clients, 7000 commercial customers, 13,000 domestic users and 300 vehicle refuelling stations in New Zealand.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director
CHI - New customer contract to upgrade Marsden Point
Synlait announces changes to Board of Directors
May 1st Morning Report
Devon Funds Morning Note - 30 April 2024