SOCAR Increases Number of Filling Stations in Switzerland to 200

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SOCAR Energy Switzerland (the Swiss subsidiary of SOCAR) has brought the number of filling stations in Switzerland to 200, SOCAR said in a statement

“The company is pleased to announce that last week it opened the 200th filling station under the SOCAR brand in the village of Innertkirchen. Before that, the 198th SOCAR gas station was opened in Stalvedro, and the 199th – in Meiringen,” the company said.

As reported, SOCAR operates in Switzerland in the field of retail trade in petroleum products, having a network of filling stations under the SOCAR brand.

The agreement for SOCAR’s acquisition of shares in Ecco Schweiz GmbH was signed in Zurich on November 16, 2011. In general, the purchase cost SOCAR $ 330 million.

According to the agreement, the acquisition of Ecco Schweiz GmbH will transfer to SOCAR’s disposal a retail network of petroleum products from more than 160 filling stations, a division of the company engaged in fuel marketing for industrial and wholesale customers, a gas filling plant in Wangen-Oltend; aviation refueling points at Geneva and Zurich airports and shares in respective joint ventures, and shares in a Swiss supply and distribution company that controls the terminal and pipeline joint venture.

In addition, the headquarters of the trading company SOCAR Trading is located in Zurich.

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