Tesoro to Launch the ARCO® Brand in Mexico
July 25 2017 - 5:18PM
SAN ANTONIO, TEXAS - July 25,
2017 - Tesoro Corporation (NYSE: TSO), to become Andeavor on
Aug. 1, 2017, today announced it has reached a definitive agreement
that will enable the company to supply transportation fuels and
launch the ARCO brand in the states of Sonora and Baja California,
Mexico.
This agreement allows Profesional Fuels Solutions,
S.A. de C.V. (ProFuels) to begin wholesale marketing operations in
Mexico under the ARCO brand. The ARCO brand provides value to
consumers through its high-quality TOP TIERTM
gasoline. The first ARCO-branded stations are expected to open
within the next 60 days.
Tesoro's wholesale marketing agreement with an
affiliate of ProFuels, currently the largest operator of retail
gasoline stations and a distributor of transportation fuels in
northwest Mexico since 1991, provides ProFuels the ability to
market and grow the ARCO fuel brand in the region.
Tesoro plans to integrate supply to Mexico with
its West Coast refining, marketing and logistics system and expects
to expand the brand throughout Baja California and Sonora to
achieve a leading market position in both states.
"We are very excited to begin operations in Mexico
and to launch the ARCO brand. This agreement furthers our strategic
marketing integration and presents a tremendous opportunity to
offer a high-quality fuel in a growing market," said Greg Goff,
Chairman, President and CEO.
About Tesoro
Corporation
Tesoro Corporation, soon to become Andeavor, is an independent
refiner and marketer of petroleum products. Tesoro, through its
subsidiaries, operates 10 refineries in the western United States
with a combined capacity of approximately 1.2 million barrels per
day and ownership in a logistics business, which includes interest
in Tesoro Logistics LP (NYSE: TLLP) and Western Refining
Logistics, LP (NYSE: WNRL) and ownership of their general partners.
Tesoro's retail-marketing system includes approximately 3,000
retail stations marketed under multiple well-known fuel brands,
including ARCO®, SuperAmerica®, Shell®, Exxon®, Mobil®, Conoco®,
Tesoro®, USA Gasoline(TM) and Giant®.
Notes to
editors
-
ARCO® is a trademark of Tesoro.
-
ARCO® stations offer quality TOP TIERTM gasoline
and are currently located in five western U.S. states, including
Arizona, California, Nevada, Oregon and Washington.
-
Tesoro has been evaluating opportunities in
Mexico for some time, and believes the Mexican States of Sonora and
Baja California are an excellent fit with its U.S. West Coast
system.
-
Tesoro will adopt a new name, Andeavor,
effective August 1, 2017.
-
Tesoro is soon to celebrate its 50th year in
operation and is one of the largest independent petroleum refiners
and marketers in the United States, with a focused presence in the
western United States.
FORWARD LOOKING STATEMENTS
This release contains "forward-looking" statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, including
without limitation statements concerning: our operational,
financial and growth strategies, including our plans to integrate
supply to Mexico, launch the ARCO brand, and expand the brand
throughout Baja California and Sonora; our ability to successfully
effect those strategies and the expected timing and results
thereof; and statements regarding the agreement with ProFuels, and
the expected benefits and timing thereof. For more information
concerning factors that could affect these statements, see our
annual report on Form 10-K, quarterly reports on Form 10-Q, and
other public filings and press releases, available at
www.tsocorp.com. We undertake no obligation to revise or update any
forward-looking statements as a result of new information, future
events or otherwise.
Contacts:
Investors:
Brian Randecker, Investor Relations, (210) 626-4757
Media:
Tesoro Media Relations, media@tsocorp.com, (210) 626-7702
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Tesoro Corporation via Globenewswire
Andeavor (NYSE:ANDV)
Historical Stock Chart
From Aug 2024 to Sep 2024
Andeavor (NYSE:ANDV)
Historical Stock Chart
From Sep 2023 to Sep 2024