OMV sells OMV Wärme VertriebsgmbH
February 4, 2011 - 12:30 pm (CET)
- The buyer is a consortium led by RWA Raiffeisen Ware Austria Aktiengesellschaft
- With this move, OMV has completed the restructuring of its heating oil business in Austria and Germany
- The buyer will take over all 42 employees of OMV Wärme VertriebsgmbH as well as the six sales offices
OMV has sold its heating oil subsidiary OMV Wärme VertriebsgmbH, a 100%-owned subsidiary of OMV Refining & Marketing GmbH, to a consortium led by RWA Raiffeisen Ware Austria Aktiengesellschaft (RWA Raiffeisen Ware Austria Aktiengesellschaft 51%, UNSER LAGERHAUS Warenhandelsgesellschaft m.b.H. 27%, BayWa Vorarlberg Handels GmbH 11%). OMV Refining & Marketing GmbH retains 11%.
The company remains OMV’s brand partner for Vitatherm sulphur-free heating oil, which is produced at the Schwechat and Burghausen refineries. All 42 employees of OMV Wärme VertriebsgmbH as well as the six sales offices between Vienna and Lustenau will be taken over.
With this move, OMV has completed the restructuring of its heating oil business in Austria and Germany; it has previously sold OMV Bayern GmbH to Kreuzmayr GmbH of Eferding, (Upper Austria) in 2008. This means that heating oil will now be sold to private customers only through brand partners. Besides these brand partners OMV will continue to provide direct support to large customers.
The deal is expected to be closed in the first half of 2011 following the completion of the antitrust inquiry. The companies have agreed not to disclose the purchase price.
Background information:
OMV Aktiengesellschaft
With Group sales of EUR 17.92 bn and a workforce of 34,676 employees in 2009, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. As the leading energy Group in the European growth belt, OMV is active in Refining & Marketing (R&M) in 13 countries. In Exploration & Production (E&P) OMV is active in 16 countries on four continents. In Gas & Power (G&P) OMV sells approximately 13 bcm gas per year. Through its 2,000 km long gas pipeline network in Austria G&P transports approximately 75 bcm gas annually. OMV’s Central European Gas Hub is with around 23 bcm annual trading volume one of the most important gas hubs in Continental Europe.
OMV is the leading energy Group in the European growth belt with oil and gas reserves of approximately 1.19 bn boe, daily production of around 316,000 boe in Q3/10 and an annual refining capacity of approximately 26 mn t. OMV now has 2,310 filling stations as of Q3/10. The market share of the group in the R&M business segment in the Danube Region is now 20%.
OMV further strengthened its leading position in the European growth belt through the acquisition of a majority stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business.
Under its 3plus strategy, OMV combines the strengths of its E&P, G&P and R&M business units in order to ensure that it provides the best possible supply service to its three core markets of Central and Eastern Europe, Southeast Europe and Turkey. OMV uses the synergies that result from the combination of these strengths to extend its supply chain from oil and gas through to electricity and eventually renewable energy.
Sustainability
OMV is a signatory to the UN Global Compact, and an active supporter to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment, especially in economically weak regions. OMV continuously addresses economic, environmental and social issues related to its business in a responsible manner. The Company reports on its activities in a sustainability report in accordance with the Global Reporting Initiative Guidelines. This report is published at the same time as the annual report.