May 31, 2015 |
UGI Corp. on Friday announced the completion of the acquisition of Total's liquefied petroleum gas (LPG) distribution business in France for $465 million. The acquisition of Totalgaz doubles UGI's retail propane distribution in France to about 500 million gallons a year. The Valley Forge company expects the transaction to reduce per-share earnings by 14 to 18 cents in 2015, due to transaction expenses and the effect of acquiring the business during the off-peak summer months, but it expects it will add to earnings starting in 2016.
March 4, 2015 |
Thomas W. Vahey, 79, of Sea Isle City, N.J., who retired in 1999 as a petroleum blender at the Arco refinery in South Philadelphia, died of complications from Alzheimer's disease Friday, Feb. 27, at a relative's home in Havertown. Born in West Philadelphia, Mr. Vahey graduated from St. Thomas More Catholic Boys High School in 1953. Mr. Vahey worked in a produce warehouse before joining Arco in the late 1960s, daughter Charlene Dempsey said. Though Mr. Vahey had not played high school football, Dempsey said, he was a quarterback in the semiprofessional Triangle League from the 1950s into the 1960s, when he was in his mid-30s.
April 13, 2014 |
Cabot Oil & Gas Corp., one of the state's most prolific Marcellus Shale natural gas producers, is giving $2.5 million to Lackawanna College in Scranton to boost its School of Petroleum and Natural Gas. The gift is the largest single private donation in the history of the two-year college. Lackawanna College established the school in 2009 in the Susquehanna County borough of New Milford, near the heart of Cabot's drilling activity. "Our partnership with Cabot enhances tremendously the ability of the School of Petroleum and Natural Gas to provide a world-class education designed to prepare a ready workforce that fits the needs of the multiple companies across the industry," Mark Volk, the college's president, said in a statement.
March 25, 2013 |
Joseph L. Novello Sr., 90, of West Chester, a petroleum engineer who became a sales manager for an encyclopedia company, died Sunday, March 10, at the Neighborhood Health Inpatient Hospice in West Chester. Mr. Novello retired as a regional sales manager for Encyclopaedia Britannica Films Inc. in 1987 after leaving a career as a petroleum engineer for Standard Oil Co. He made the switch in the early 1950s, when he was notified that he would be transferring from New York to a facility in the West.
November 21, 2012 |
UGI Corp., the Valley Forge energy company, has acquired another European distributor of liquefied petroleum gas. The company announced Tuesday that its subsidiary, Flaga GmbH, has reached an agreement to acquire the LPG distribution business of BP in Poland, which distributed 150 million gallons of bottled fuel to residential, commercial and wholesale customers last year. Terms were not disclosed. UGI's expanding international propane business distributed more than 600 million gallons of LPG throughout Europe, where it has acquired several networks in recent years.
March 30, 2011
Plastic bottles. They're everywhere. They're clogging drains, floating in the Schuylkill and way too often being sent to landfills instead of recycling bins. As such, they've become eco-culprits. The industry has responded by coming up with better bottles, lighter bottles. Earlier this month, PepsiCo unveiled a bottle that is "plant-based" and still recyclable. I'm putting it out there as part of a new blog feature running every Friday: Green Gauntlet. Readers get to weigh in on whether a product is as green as purported.
December 10, 2010 |
Loren Riggins Jr., 84, of Vineland, N.J., former president of Riggins Oil Co. and a longtime supporter of the Boy Scouts, died of Alzheimer's disease on Monday, Dec. 6, at the New Jersey Veterans Home in Vineland. When Mr. Riggins took over his family's heating oil business in the early 1950s, he was ready to use his Bucknell University business degree to take the company to new heights. "He wanted to diversify" the business, said son Paul. Mr. Riggins added about a dozen service stations, which at first sold gas under the Phillips 66 brand but after the oil embargo of 1973 switched to Exxon and Mobil.
October 18, 2010
UGI Corp., Valley Forge, said today that it bought Royal Dutch Shell P.L.C.'s liquefied petroleum gas distribution business in Poland for an undisclosed price. The business, Shell Gas Polska Sp., distributed more than 60 million gallons of LPG in 2009. The deal will nearly double the size of UGI's Eastern European operation, which distributed 70 million gallons of the gas in the latest fiscal year. The acquisition is UGI's third in Europe since August, following deals in Denmark and Hungary.
September 15, 2010
UGI Corp., King of Prussia, acquired the liquefied petroleum gas distribution business of Shell Gas Hungary, its second European LPG acquisition in two months. Terms were not disclosed. Shell's Hungarian operation distributed 27 million gallons last year, and will be managed by UGI's Flaga GmbH subsidiary, which distributes more than 70 million gallons of LPG annually in Austria, Switzerland, and five Eastern European countries. The acquisition comes after UGI in August announced it was buying BP's 9.5-million-gallon LPG business in Denmark.
August 11, 2010
UGI Corp., King of Prussia, agreed to buy BP's liquefied petroleum gas distribution business in Denmark for an undisclosed amount. The business, which distributes 9.5 million gallons of LPG a year, will be managed by UGI's Flaga GmbH subsidiary, which distributes more than 70 million gallons of LPG annually in Austria, Switzerland and five eastern European countries. The transaction, announced today after markets closed, is expected to be completed in September. - Andrew Maykuth