Air BP today announced its agreement to purchase the aviation fuel business, Statoil Fuel & Retail Aviation AS (SFR Aviation), from Canadian company Alimentation Couche-Tard Inc. The deal will add around 73 new airports in the Nordic countries and Northern Europe to Air BP’s 600-strong global fuels network. The deal, which is subject to regulatory approvals, is expected to close by the end of 2014. On completion around 59 SFR Aviation employees, currently based in Norway, Sweden and Denmark are expected to join Air BP.
David Gilmour, chief executive of Air BP, said: “Bringing SFR Aviation’s business into our own strengthens our position in Scandinavia which is an attractive region for the aviation industry, especially in the general aviation market. This deal will grow BP’s airport coverage, as well as introduce us to new customers, and give us access to SFR Aviation’s quality infrastructure and operations. It complements our existing presence in the region and will allow us to expand where we see long term prospects.”
The acquisition gives Air BP presence in new locations, particularly in Norway, and a strong position in the general aviation customer segment.
“As a competitive, leading supplier in the region we’ll be offering our new commercial airline, general aviation and military customers Air BP’s full range of services including security of supply, product quality assurance, our technical services offer, and 24/7 customer support,” said Gilmour.
The acquisition brings Air BP a network of quality locations, high operating standards, new supply and sales agreements including some military contracts, a fleet of refuelling vehicles, and storage and distribution infrastructure.
BP Press Office, London: +44 (0)207 496 4076, email@example.com
This press release contains certain forecasts, projections and other forward-looking statements regarding BP's purchase of Statoil Fuel & Retail Aviation AS (SFR Aviation), including regarding: the expected addition of new airports to Air BP’s global fuels network; the expected timing of closing; expectations regarding the transfer of SFR Aviation employees to Air BP; expectations regarding future benefits arising from the purchase including growth in airport coverage and customer base; and expectations regarding future expansion in the region and the long term prospects thereof. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will or may occur in the future. Actual results may differ from those expressed in such statements, depending on a variety of factors including the timing and receipt of governmental and regulatory approvals; future levels of industry product supply; demand and pricing; operational issues; economic and financial conditions generally or in various countries and regions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; regulatory or legal actions; exchange rate fluctuations; the actions of competitors, trading partners, creditors, rating agencies and others; natural disasters and adverse weather conditions; changes in public expectations and other changes to business conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed under "Principal risks and uncertainties" in our Stock Exchange Announcement for the period ended 30 June 2014 and under "Risk factors" in our Annual Report and Form 20-F 2013 as filed with the US Securities and Exchange Commission.