Imperial and Husky Energy to Create National Truck Transport Fuel Network in Canada
CALGARY, AB--(Marketwired - October 06, 2015) - Husky Energy (TSX: HSE)
- Imperial and Husky to combine truck transport fuel networks to enhance competitiveness and better serve trucking customers throughout Canada
- Husky to manage combined network of about 160 Esso-branded Truck Transport locations
Imperial Oil and Husky Energy (TSX: HSE) are entering into an agreement that will create a single Truck Transport fuel network of about 160 sites in Canada, approximately twice the size of either individual network today. The larger national network will better serve Canadian commercial and truck transport customers.
As part of the agreement, Imperial will convert its Esso truck transport fuel business to a branded wholesaler model. Husky will assume management of all dealer relationships and ongoing network growth as an Esso-branded wholesaler in the Truck Transport fuel segment. Imperial will supply fuel to the consolidated network and continue to invest in marketing programs that support the customer offer. Husky will convert its commercial cardlocks, co-located Travel Centres and a select number of retail service stations to the Esso brand, all of which will remain under Husky's management.
The agreement is subject to approval by Canada's Competition Bureau and closing conditions.
Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, Canada and is publicly traded on the Toronto Stock Exchange under the symbol HSE. More information is available at www.huskyenergy.com
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada's energy resources. As Canada's largest petroleum refiner, a major producer of crude oil and natural gas, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
Source: Marketwired (Canada)
(October 6, 2015 - 4:05 PM EDT)
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