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In parallel with this agreement, Total is reinforcing its lubricants business in Italy by buying out
Erg’s 51% stake in the lubricants activities of the joint venture that will consequently be
terminated.
Created in 2010 by merging the Total and Erg activities, TotalErg is the fourth-largest fuel
marketer in Italy, a fragmented market where the profitability outlook was not in line with the
Group’s expectations despite the joint efforts of the two shareholders. The lubricants market,
however, does offer satisfactory growth perspectives and this consolidation is in line with the
Group strategy in this business sector.
“The successful monetization of these mature activities in a challenging market is another
example of our active portfolio management strategy in Marketing & Services. It also helps
reduce our refining capacity in Europe while taking advantage of a favorable market,” said
Momar Nguer, President, Marketing & Services. “The buyout from Erg of the lubricants activity
allows us to focus and expand this high-return business. In addition, we will maintain our
presence in the truck refueling business in Italy with our European network AS24, as well as
in aviation fuels.”
Total in Italy
Total has been present in Italy for 60 years. The Group markets aviation and truck fuel,
lubricants, additives, special fluids and related services. In addition, it operates the Tempa
Rossa oil field, currently under development, and has interests in five other exploration blocks
(four of which it operates), all located in the same region of the southern Apennines.
Total affiliates, Hutchinson in materials, Saft in batteries and SunPower in solar panels
distribute their products in the country.
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