Royal Dutch Shell Plc  .com Rotating Header Image

Reuters: Showa Shell, Sumitomo to merge LPG businesses

Fri Dec 21, 2007 3:22am EST

TOKYO, Dec 21 (Reuters) – Japanese refiner Showa Shell Sekiyu KK (5002.T: Quote, Profile, Research) and trading company Sumitomo Corp (8053.T: Quote, Profile, Research) said on Friday they would merge liquefied petroleum gas (LPG) businesses in April to remain competitive in the declining market.

The two firms will consolidate domestic retail and some wholesale businesses under a new holding company, which will be owned 51 percent by Showa Shell and the rest by Sumitomo.

Import functions will be consolidated at Showa Shell, while Sumitomo will continue its trading and will supply LPG to Showa Shell.

Last year, refiner Idemitsu Kosan Co (5019.T: Quote, Profile, Research) and Mitsubishi Corp (8058.T: Quote, Profile, Research) formed Astomos Energy Corp, the biggest LPG wholesaler in Japan. Trading firms Mitsui & Co (8031.T: Quote, Profile, Research) and Marubeni Corp (8002.T: Quote, Profile, Research) said in June they would form a holding company in April next year. (Reporting by Yuko Inoue; Editing by Malcolm Whittaker)

http://www.reuters.com/article/mergersNews/idUST3093420071221

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “Reuters: Showa Shell, Sumitomo to merge LPG businesses”

Leave a Comment

%d bloggers like this: