Texaco signage soon to disappear

All of Cayman’s gas stations that have blazed the familiar Texaco signage for many years will be no more. Instead they will all have the Rubis logo.

Seven Mile Beach service station is the first gas station to receive the make-over.

The following are all Rubis related stories:

Chevron to Leave Cayman After Finalising Rubis Deal

Tuesday, 22 May 2012 From Petrol World

Chevron has said that it is leaving its Cayman business after finalising a deal to sell its assets on the islands to petroleum storage operator Rubis.

Rubis, which acts as the wholesale supplier to Texaco in the region, acquired Chevron’s assets at the end of April. The deal includes the handover of Chevron’s distribution network in the Bahamas and the Turks and Caicos Islands.

The companies have not yet revealed what, if any, changes to service station operations will result from the switch in management.

Rubis purchases Chevron in TCI and will invest $20million

By Vivian Tyson, Senior SUN Editor • Mon, Oct 01, 2012

French Oil Company Rubis is to pump more than $20 million in the Turks and Caicos Islands by the purchasing Chevron in the TCI and make further investing in a fuel terminal, oil distribution station and the establishment of a number of petrol stations across the country.

Governor Ric Todd made the announcement during a post Advisory Council media briefing on Wednesday, September 19, at the Environment Centre in the Bight. In addition to purchasing Chevron in the Turks and Caicos, Cayman and the Bahamas, thereby taking control of the Texaco brand, Rubis, according to Governor Todd, also planned to support a number of social and educational programmes in the country.

“When a company like Rubis comes, spending money, making investments into the islands, that partly is jobs, its prosperity, but also it’s an important vote of confidence in how the economy is going and the prospects which this country has, and prospects are, I think, pretty good. They have made donation to the Wellness Centre on Grand Turk and they are working with a school here on Providenciales,” Governor Todd said.

In the meanwhile, Spokesman for the Governor’s Office Neil Smith said that on top of the $20 million already invested, Rubis is to spend close to, or more than a million dollars rebranding Texaco Service Stations across the country. Smith said that Rubis would spend $70,000 to rebrand each Texaco station.

“They (Rubis) buy the business (Chevron), and what you would see, the way it would manifest itself the most obvious way is, over the course of the next year or so, all the Texaco Service Station would be rebranded Rubis, and we reckon that they would spend in the region of $70,000 per service station, bringing them up to their standard,” Smith said.

For more on this story go to:

http://suntci.com/rubis-purchases-chevron-in-tci-and-will-invest-million-p279-106.htm

Rubis Eyes Rebranding In Third Quarter 2013

By NATARIO Mckenzie Tribune Business Reporter From Tribune242

RUBIS intends to begin rolling-out its re-branding programme by the third quarter of next year, a company executive telling Tribune Business that the company had seen its volumes double as a result of its fuel price reduction offering.

RUBIS’ western Caribbean general manager Stewart Gill told Tribune Business that the company’s re-branding initiative to affect its 20 stations in the Bahamas would begin in the third quarter of next year.

“The planning for that will start in the fourth quarter of this year but the actual implementation of that won’t be until next year. I think it will probably take three to four months to get them all done,” said Mr Gill.

Back in May, Chevron concluded the sale of its fuels marketing and aviation businesses in the Bahamas, Cayman Islands and Turks & Caicos to Vitogaz, a wholly-owned subsidiary of RUBIS. In an earlier interview Mr Gill told Tribune Business that the company was looking to regain control of its aviation fuel business.

“Our business has grown in the aviation sector, certainly here and in the Cayman Islands. What we had to was make a correction to our pricing that we inherited from Chevron, particularly in Cayman and Turks and Caicos as well. I think the prices were very high so we had to make a sacrifice for the longevity of the business in offering lower margins to be more competitive. That obviously has a short term impact in terms of profitability but it gives us a much more sustainable position moving forward,” said Mr Gill.

Speaking about the company’s performance thus far Mr Gill said: “We have had quite a interesting start. I think things are trending upward, we had quite a few new business opportunities that we have been pursuing. We managed to complete some of them and there are quite a few on the radar. There is still a lot to be done but I think the trend is positive.”

RUBIS recently took advantage of an opportunity to offer its customers fuel under $5 per gallon as a means to introduce the company into the local market.

“I think over the last week and a half since the price was launched the volumes have gone crazy. We have seen probably double our typical volumes during that period. All good things come to an end though and with the summer driving season pushing prices up along with winter coming on prices are starting to go back up.” said Mr Gill.

He added: “At least we were able to pass though a sub $5 per gallon of market and use the opportunity to get our name out there. With the next shipment the price will go back up for sure so that’s pending now. We are very aware of the pricing and we continue to press our suppliers to find the best deals. It’s a very competitive market here. Consumers here are very price sensitive. Between one week and the next there is a big shift in terms of customer movement depending on who has the better price.”

With its takeover from Chevron, the French multinational energy company has gained ownership of 39 retail stations, eight aviation facilities, six fuel terminals and one joint operation at the Nassau airport terminal, and a commercial and industrial fuels business. These assets are in addition to the previously announced sale in the Caribbean and parts of Central America to RUBIS in July 2011 that consisted of 174 service stations operating under the Texaco brand, an equity interest in an associated refinery operation, proprietary and joint-venture terminals and aviation facilities, and Chevron’s commercial and industrial fuels business.

For more on this story go to:

http://www.tribune242.com/news/2012/aug/16/rubis-eyes-rebranding-third-quarter-2013/

RUBIS : significantly expands in the Caribbean by acquiring Chevron fuel downstream affiliates

PRESS RELEASE November 7, 2011

Rubis will acquire CHEVRON’s fuel distribution in the Bahamas, Cayman Islands as well as in the Turks & Caicos.

This business package represents 250,000 cbm sales with a turnover of US $230 million for year 2010.

This acquisition fully matches all of Rubis’ external acquisition criteria:

a mixed set of distribution activities – retail network of 39 service stations under the Texaco brand, commercial and aviation – profitable and soundly established for almost 90 years;

leadership positions in these countries with an average market share of 45%;

robust logistic base comprising 6 storage terminals in import oriented markets.

Combined with skilled management structure already in place (West Indies) and synergies to come in terms of supply & shipping, all add-up to making this a promising acquisition for Rubis.

This transaction, which will be fully financed by existing bank credit facilities, is expected to boost the Group’s existing operations in the West Indies by almost 75% with a positive effect on the Group’s profitability from the year 2012 onwards.

Final completion of this acquisition is subject to prior approval from the local Competition Authorities.

After the French Antilles and French Guiana in 2005, Bermuda in 2006 and the West Indies in 2011, this latest Rubis acquisition in the Caribbean establishes its leadership position as the independent petroleum products distributor in the Caribbean.

Rubis History

2012

LPG distribution business sell-off in Czech Republic and Senegal.

RUBIS completes the acquisition of CHEVRON group’s distribution networks in the Bahamas, the Cayman Islands and the Turks and Caicos Islands.

RUBIS completes the acquisition of 50 % of DELTA PETROL oil terminal in Turkey.

2011

RUBIS significantly expands in the Caribbean by acquiring CHEVRON fuel downstream affiliates.

RUBIS choses to focus on the Caribbean region and announces the divestments of its Central American assets.

RUBIS in exclusive negotiations to acquire 50% of an oil terminal in Turkey.

RUBIS extends its LPG Distribution presence in Southern Africa.

2010

After buying out BP 50% share RUBIS becomes FRANGAZ sole shareholder.

Inclusion of RUBIS in stock market indices SBF 120 and SBF 80.

RUBIS consolidates its presence in Africa: acquisition of SHELL’s LPG distribution affiliates in Southern Africa.

RUBIS takes over the LINDE LPG cylinder business in Switzerland.

RUBIS doubles its size in Spain: acquisition of BP’s LPG Business.

300 million dollar takeover of CHEVRON distribution activities in the Caribbean.

Capital increase.

2009

Construction of new storage tanks in Rotterdam.

RUBIS enters petrol distribution in Corsica (France).

2008

Start of business at the Rotterdam terminal and engineering launch at Antwerp.

Acquisition of SHELL’s distribution activities on Jersey and Guernsey.

Acquisition of TOTALGAZ LPG’s distribution in Spain.

RUBIS moves into aviation fuel distribution.

2007

RUBIS TERMINAL builds a new chemical products and petroleum specialties tank terminal in Rotterdam.

VITOGAZ: Acquisition from SHELL of LPG distribution activities in five European countries.

In partnership with MITSUI and ITC, RUBIS builds a new 110,000 cbm terminal in Antwerp, Belgium for the storage and handling of various liquid chemicals, gases and petroleum products.

“Casino” bottle launch.

Changeover to “VITO” colours in services stations in the French West Indies and French Guiana.

2006

Partnership with BP for the distribution of LPG motor fuel through BP’s service station network. Acquisition of SHELL’s petroleum products distribution business in Bermuda. Joint venture with BP France for the marketing of cylinder LPG in the Intermarché network under the brand name of ENERGAZ.

2005

Acquisition from SHELL of SAGF, a distributor of LPG and petroleum products in the French Antilles and French Guiana.

2004

Inclusion of RUBIS in new stock market indices CAC Mid 100, CAC Mid and Small 190 and SBF 250.

2003

Establishment of VITOGAZ in Senegal.

2002

Strengthening of RUBIS TERMINAL’s local positions in Brest, Strasbourg and Rouen.

2001

Start of VITOGAZ activities in Madagascar and the Comoro Islands.

Acquisition of PROPETROL (storage of petroleum and chemical products in France)

2000

Start of VITOGAZ activities in Morocco.

1999

VITOGAZ enters Madagascar with the start of construction of an LPG import terminal.

1998

Expansion of RUBIS TERMINAL’s Brest and Saint-Priest oil depots.

1997

VITOGAZ establishes a presence in Morocco.

1996

Acquisition of the Saint-Priest and Strasbourg oil depots. Launch of the GAZ’L brand of LPG fuel in hypermarkets.

1995

RUBIS shares quoted on the Paris Stock Exchange. Acquisition of the Brest oil depot.

1994

Acquisition of the LPG distribution business, VITOGAZ (founded in 1939)

1993

Acquisition of the bulk liquid storage business, RUBIS TERMINAL (formerly “CPA,” founded in 1877).

1990

Founding of RUBIS.

 

CBAC welcomes new Head Coach Brad Hutton to the team

Camana Bay, Grand Cayman (Wednesday 28 August 2013): It’s set to be another busy swim season for the Camana Bay Aquatic Club (CBAC). Not only has the competitive swim club added a new training group to its offerings and expanded its swim school due to growing demand – the club also welcomes new Head Coach Brad Hutton.

Hutton joins the club this week with more than seventeen years of competitive swim coaching experience. Previously, Hutton was Head Coach to the St. John’s Legends in St. John’s, Newfoundland, during which time the club doubled its number of competitive swimmers and performance levels greatly increased. Hutton hopes to play a similar role in CBAC’s development; the three year-old club has been expanding rapidly and now boasts more than 140 members.

“Brad is a perfect fit for our club,” says CBAC President Jeffrey Wight. “He comes to us from a similar background – a small town community. And just as we have watched our club grow from a simple idea to an amazing team, Brad was instrumental in the Legends’ development from a small, local club to one of Canada’s most respected swim teams.”

Hutton is looking forward to using his experience not only to benefit the club – but also to grow the sport of swimming locally. “My coaching experiences have taken me across Canada, where I have been able to work with many of the top coaches and build a club that is highly regarded across the country. I am now looking forward to meeting other coaches from the local swim clubs and using our combined skills and expertise to further advance the high level of swimming in the Cayman Islands and beyond,” he says.

The new season also brings new additions to CBAC’s mix of competitive and fitness training groups. Age Group Performance is for swimmers 10 years and older who have outgrown Age Group Development but are not quite ready for CBAC’s top training group, MaplesFS Select. The group will train and compete competitively, both locally and internationally.

For non-competitive swimmers, Wight recommends the club’s growing Aquatic Fitness programme. “The focus is on fitness and technique, while having fun,” he explains. “Kids that play other sports come to the pool twice a week to work on their cardio and cross-training – plus, it simply keeps kids busy and active.”

Launched in January this year, the Camana Bay Aquatic Club Swim School also saw a successful first season, growing from 20 to more than 80 participants. And this term, the swim school becomes an integral part of Cayman International School’s Physical Education curriculum. “Swimming is an essential skill for

every person living in the Cayman Islands. Ensuring children learn to swim at an early age not only provides a number of health and social benefits – but could also one day save a life,” explains Wight. The Swim School also offers adult beginner and intermediate lessons, and caregiver classes for adults working with children around water. Classes take place at the Camana Bay Pool and registration is open.

“I am very proud of the success of our club and excited about the future as we begin a new season with Coach Brad,” says Wight. “We’re looking forward to reaching new heights and standards and I have all the confidence in the world in our new coach. I expect it is going to be another great year for competitive swimming in Cayman.”

For more information on the Camana Bay Aquatic Club, visit camanabayaquaticclub.com, email [email protected] or call 345.640.2878. To stay up to date with all the latest Club happenings, like Camana Bay Aquatic Club on Facebook and follow @CBAC_Cayman on Twitter.

Photo Caption: New Camana Bay Aquatic Club Head Coach Brad Hutton previously coached the St. John’s Legends, one of Canada’s most respected swim teams.

 

Asia Frontier Capital hires In Hong Kong

From FIN alternatives

Cayman Islands-based Asia Frontier Capital has made two hires for its Hong Kong office.

Ruchir Desai has joined as senior investment analyst and Stephen Friel as marketing director.

Desai joins AFC from The Leopard Asia Frontier Fund where he was a summer associate in 2012. Prior to that, he spent two years as a senior analyst at mid-market private equity group HandsOn Ventures in Mumbai and before that, he spent three years as a research analyst covering the software services industry at Pioneer Investcorp, an institutional brokerage based in that city.

Prior to joining AFC, Friel was involved in the launch of a Hong Kong-based hedge fund and before that was a statistical officer at the Australian Bureau of Statistics. He is also a former international business/strategy lecturer at The Queensland University of Technology Business School.

Founded in March 2012, the AFC Asia Frontier Fund has returned 5.15%, 9.96% and 18.68% net of fees on a three-month, year-to-date and one-year basis, respectively. The fund employs a combined top down and bottom up investment strategy to identify opportunities in  Bangladesh, Cambodia, Iraq, Laos, Mongolia, Myanmar,  Pakistan, Papua New Guinea, Sri Lanka and Vietnam.

Said Thomas Hugger, CEO and fund manager, in a statement:

“Research provided by Senior Investment Analyst Ruchir Desai has already begun to bear fruit with increasing stock coverage and the creation of enhanced screening tools to identify growth and value opportunities in our frontier universe. The fund’s exposure and ability to communicate with investors has also seen a marked increase under the direction of our new marketing director, Stephen Friel. Asia Frontier Capital is now poised for the next stage of growth and has the resources to accommodate individual investors as well as large seeding from institutional investors. I look forward to improving on the already stellar performance that has been generated since the fund’s inception.”

For more on this story go to:

http://www.finalternatives.com/node/24565

 

Cayman receives Austrian diplomat

By Georgina Wilcox

Sigurd Pacher, Deputy Head of Mission of the Austrian Embassy in Washington, D.C. visited the Cayman Islands from July 30 to Aug. 3.

It was his first visit to Cayman and he inspected the Austrian Consulate in Grand Cayman and met with Austrian citizens and government officials.

Martin Richter, the Austrian Honorary Consul in the Cayman Islands, said the local consulate is inspected and audited every three years either by the ambassador or the deputy chief of mission.

“He also met up with numerous Austrians in the community, specifically making Austrian citizens aware of the parliamentary election this fall in Austria,” Richter said.

Pacher also met immigration and tourism officials, including Director of Immigration Linda Evans, Tourism Minister and Deputy Premier Moses Kirkconnell and Acting Governor Franz Manderson.