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Article: Canada: Suncor Energy on Track to Realize Efficiency Targets From Merger With Petro-Canada.
- Article from:
- TendersInfo
- Article date:
- September 4, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Suncor Energy Inc. reported today that it is on track to meet or exceed operating and capital efficiency targets following the company's merger with Petro-Canada. When the merger plan was announced in March, the companies estimated that the combination would yield annual reductions of $300 million in operating expenditures and $1 billion in capital expenditures.
"One month after close, we are already seeing significant savings through integration of our product marketing logistics and economies of scale in our supply chain," said Rick George, president and chief executive officer. "Unfortunately, bringing two large businesses together ...