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Terpel will henceforth be responsible for the production and commercialization of Mobil in the country.
The above, according to the conditions set by the Superintendence of Industry and Commerce (SIC) in its resolution 9915, of February 15, 2018, which gave the go-ahead to the operation, Exxonmobil de Colombia said in a press release
Since March 15, Exxonmobil de Colombia SA has come under the control of an Independent Patrimony, administered by a trustee, whose mandate is to comply with the conditions established by the SIC in the aforementioned resolution. Among them was the transfer of control of Mobil lubricants business to Terpel in Colombia, which came into force on Tuesday.
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The SIC also established that before it could acquire Active Lubricants from Exxonmobil of Colombia SA, Organización Terpel had to sell some of its own assets associated with this business .
"After conducting a rigorous analysis, Exxonmobil of Colombia SA decided to buy these assets, with an investment of 12'493.933 dollars.It includes the lubricants plant. located in Bucaramanga, the transfer of certain contracts of industrial branch, as well as brands Maxter and Maxter Progresa ", the statement said.
Carlos Noack Durán, President of Exxonmobil of Colombia SA, He said: "We will bring to this new factory the operational excellence that has always characterized us, with the aim of offering our consumers of high quality lubrication products. The integration of lubricants in the existing fuel operation undoubtedly strengthens our proposition in the market and greatly increases the competitiveness of the company. "
In the fuel sector, Exxonmobil de Colombia SA has a network of more than 740 service stations under the Esso and Mobil brands, hundreds of industrial customers and 12 terminals, strategically located. , with the recent acquisition of Bucaramanga lubricants plant, it will have a new product line, which aims to replace the value of the brand Mobil, which has been transferred to the Terpel Organization. projections indicate that, in the next three years, a share of more than 15% would be achieved in the automotive lubricants market.
It is important to note that after the close of the operation, Exxonmobil de Colombia SA and Organización Terpel will continue to be competitive in the fuels and lubricants market, with its own brands, marketing strategies and value propositions.
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