SHV group acquires Chevron's Indian subsidiary
Take over to enable SHV's geographical expansion
Tweet-- SHV group, a Dutch MNC announced acquisition of 100% shares of Caltex Gas India Private Ltd. (CGIPL). The wholly owned Indian subsidiary of US based Chevron Group, Caltex Gas India was engaged in import, storage, bottling and marketing of LPG with a turnover of about Rs. 340 Crores.
SHV India, a wholly owned subsidiary of SHV group is present in India since 1996, popularly known by its brand "SUPER Gas". With revenues exceeding Rs 650 Crores and more than 300 employees, SHV India is engaged in LPG distribution mainly to industrial, commercial, and Auto LPG segments. SHV group has diversified business interests and a combined turnover exceeding Euro 11 billion employing about 38000 people worldwide.
"The decision to acquire Caltex Gas is a part of SHV's plans to grow its LPG business in India. It provides us foothold in key LPG markets in the Southern peninsula" said Mr. Ajay Kumar - CEO, SHV India. "With this acquisition, we will also expand our geographical presence enabling us to meet the increasing demand from the commercial & industrial segments. We plan to launch innovative products and services in these new markets, thereby creating value for customers", he added.
Through this acquisition, SHV has acquired a LPG import terminal facility at Tuticorin in Tamil Nadu with an annual throughput capacity of 200,000 MT which will strengthen its LPG supplies in the country. With its more than six decades of experience in global LPG markets, SHV is poised towards creating higher value to all its customers.
Notes to Editor
About SHV group:
SHV is a family owned Dutch company and based out of Utrecht in The Netherlands. Besides LPG Distribution (SHV Gas), SHV Group is active in number of other businesses like Oil & Gas exploration in Europe (Dyas), Cash and Carry Stores in Asia and South America (Makro), Private Equity in The Netherlands (NPM Capital) & Heavy lifting and Transport solutions worldwide (Mammoet) & industrial services (ERIKS). SHV Gas is the largest dedicated global Liquefied Petroleum Gas (LPG) distributor, operating in 27 countries, employs 13,500 people, and has a turnover of over Euro 5 billion. SHV specializes in providing innovative energy solutions through LPG to its customer in various segments. SHV well-known brand names in LPG across the globe are Primagaz, Calor Gas, Liquigas, Gaspol, Ipragaz, SUPER Gas etc.
About Caltex Gas India:
A fully owned subsidiary of US based Chevron group, Caltex Gas was engaged in import, storage, bottling and marketing of LPG in South India. With a customer base of over three lakh and a distribution network comprising of 250 distributors, Caltex Gas was a leading LPG company in domestic, commercial, industrial and Auto LPG segment and very well known for its efficient customer service and high safety standards.