Hyderabad, January 12, 2010

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. 350 crores.

Addressing the media during press conference - Mr. Ajay Kumar, CEO along with Mr. Tarun Kumar, CFO and Mr. Suresh Bhalla, GM (Sales & Marketing)

"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 180,000 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.