Giant acquires Dial Oil
Jul 14, 2005 12:42 PM
Giant Industries Inc, Scottsdale AZ, has acquired Dial Oil Co, Farmington NM.
Dial Oil is a wholesale distributors of gasoline, diesel, and lubricants throughout the Southwest.
Assets include four bulk petroleum distribution plants, 16 cardlock fueling locations, and a fleet of truck transports.
The company's annual fuel and lubricant sales volumes are approximately 100-million gallons.
Dial Oil also owns and operates 12 service station/convenience stores.
"We believe that synergies can be obtained by more effectively utilizing our refining, Phoenix Fuel, and Dial Oil transportation fleets," said Fred Holliger, Giant's chief executive officer.
"We recently announced that we are in the process of acquiring a pipeline system to access additional crude oil supplies for our two New Mexico refineries. When operational, the pipeline should have sufficient crude oil transportation capacity to allow us to again operate both refineries at maximum rates.
"Although we plan to continue to purchase a large portion of Phoenix Fuel's and Dial's fuel needs from third-party suppliers, this acquisition serves as another stepping-stone to optimally balance our supplies between our own refineries and third-party sources."
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