HOUSTON, Jan. 3 /PRNewswire/ -- Pennzoil-Quaker State Company (NYSE: PZL)
announced today that it has closed the sale of its Carson, California
packaging plant to G.P. Resources, Inc. of Long Beach.
The Carson plant, one of several assets that Pennzoil-Quaker State Company
concluded were not strategic to its long-term goals, has operated as a
blending and packaging facility since the formation of Pennzoil-Quaker State
Company in late 1998. The plant formulates and supplies lubricants to the
West Coast market.
G.P. Resources, Inc. (dba General Petroleum) is a large West Coast marine-
commercial fuels and lubricants distributor headquartered in Long Beach,
California. John Zar, president and CEO, commented: "The Pennzoil-Quaker
State Carson facility will allow General Petroleum to consolidate its offices,
transportation group and lubricants storage facilities under one roof.
Strategically situated near three main freeways, this operation will allow
G.P. to improve its petroleum distribution economics and allow for future
expansion."
Pennzoil-Quaker State Company is a leading worldwide automotive consumer
products company, marketing over 1,300 products with 20 leading brands in more
than 50 countries. The company markets Pennzoil(R) and Quaker State(R) brand
motor oils, the number one and number two selling motor oils in the United
States. Jiffy Lube, a wholly owned subsidiary of Pennzoil-Quaker State
Company, is the world's largest fast lube operator and franchiser. For more
information about Pennzoil-Quaker State Company, visit its web site at
http://www.pennzoil-quakerstate.com/.
SOURCE Pennzoil-Quaker State Company
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Related links:
http://www.pennzoil-quakerstate.com
Company News On-Call:
http://www.prnewswire.com/comp/684550.html or fax,
800-758-5804, ext. 684550
CONTACT:
Ray Scippa of Pennzoil-Quaker State Company,
713-546-8942
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