Texaco, ChevronApprove Merger
James Tibbetts Texaco Caribbean Inc. (Cayman) General Manager.
Texaco Caribbean (Cayman) has said that shareholders of Chevronand Texaco approved a proposed merger between the two companies,following a meeting of stockholders Tuesday, 9 October, in Texas.
Texaco Caribbean Inc. (Cayman) General Manager, Mr. James Tibbettssaid that the vision of the new company is to be the global energycompany most admired for its people, partnership and performance.
"Whatever lies ahead, ChevronTexaco is committed to providingvital energy to customers around the world, and to working withall stakeholders. We have more opportunities for growth, greaterfinancial strength, as well as a broader technology portfoliowith capabilities in both conventional and future energy sourcesand more talent, experience and know-how.
"Our company will continue to help communities and businesseseverywhere we work, and we will retain our constant focus on safeand environmentally responsible operations."
Texaco Caribbean (Cayman) Ltd. will not undergo any major operationalchanges as a result of the merger. Locally, Texaco operates threefuel terminals at South Church Street, the airport and CaymanBrac and has 12 service stations on Grand Cayman and Cayman Brac,in addition to four marina outlets.
Texaco has been represented in the Cayman Islands since 1940.