Cartel office agrees to takeover of ExxonMobil facilities in Australia
The takeover of the chemical pharmaceutical specialty business of ExxonMobil in Australia by the H&R WASAG group is now legally valid. The Australian cartel office (Australian Competition and Consumer Commission - ACCC) has issued its approval of the acquisition of the activities which will be transferred to their new owner with effect from May 1, 2005.
The two production and tank storage facilities near Melbourne have an annual turnover of EUR 10 m through the sale of waxes, white oils and other oil-based primary materials. Together with activities already acquired from BP in 2004, this now makes the H&R WASAG group one of the leading suppliers of oil-based specialty products "down under" with sales of EUR 25 m.
"Overseas regions form an important cornerstone of our growth strategy" says Dr. Horst Hollstein, Chief Executive Officer of H&R WASAG, in explaining the outlook for the company. South East Asia and South Africa in particular hold tremendous potential.
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