|
SMF ENERGY CORPORATION, (NASDAQ: FUEL), a leading
provider of specialized transportation and distribution
services for petroleum products and chemicals, today
announced that its wholly owned subsidiary, H & W
Petroleum Company, Inc., has entered into a multi-year
Lubrication Marketer Agreement with Chevron Products
Company, a division of Chevron U.S.A. Inc., to market
Chevron branded lubricants. The Company's similar
agreement with Chevron U.S.A. for its Texaco brand of
lubricants which was entered into in 2005 also remains
in place.
Chevron Global Lubricants North America had previously
announced that it was combining the Chevron and Texaco
Commercial and Industrial (C & I) lubricant brands under
the Chevron master brand name, with the exception of its
consumer product offerings marketed under the Texaco
Havoline product line, which will continue to be
marketed through its Texaco Xpress Lube network and its
other marketing channels.
Gathright continued, "Chevron is recognized as a market
leader in the production and marketing of commercial,
industrial and consumer lubricants. With this
consolidation, Chevron will have a single branded
product line that will allow us to provide a single
source solution for our customers. We will be able to
leverage the strength of both brands in specific
applications and offer a more inclusive product line,
while providing assurance of the historical Texaco
product formulations to those customers who have come to
rely on them in their applications. The addition of the
Chevron product line to our Texaco portfolio will allow
us to reach out to new bases of business that in the
past would have required multiple vendors."
Richard E. Gathright, President and CEO commented, "As
recently reported in Fortune Magazine, Chevron is the
6th largest company in the U.S. by revenue, with over
$200B in sales. The consolidation of the Chevron and
Texaco brands and product lines is an exciting
development for the Company and specifically our
Mid-Continent Division lubricant operations in Texas.
The addition of the Chevron brand fills in some product
gaps in the Texaco line, allowing us to provide our
customers with the broadest possible commercial and
industrial product line. Our customers will also benefit
from Chevron's retention of all its prior Texaco
formulations by re-branding them as Chevron, averting
any potential product conversion issues for our
customers. In addition, we are pleased to add the
Chevron Delo HDMO product line, which will complement
our former Texaco, now Chevron, Ursa Super Plus heavy
duty offering, since the Delo line of heavy duty motor
oils is the market leader in brand recognition."
|
