Business & Finance
Business and Finance
Business and Finance
Mon, October 18, 2010 UGI Announces Purchase of LPG Business in Poland from Shell
VALLEY FORGE, Pa.--([ BUSINESS WIRE ])--UGI Corporation (NYSE: UGI) today reported that its subsidiary, Flaga GmbH, has acquired Shell Gas Polska Sp. z o.o., the liquefied petroleum gas (LPG) distribution business of Shell in Poland. Headquartered in Austria, Flaga distributed over 70 million gallons of LPG in fiscal year 2010 in Austria, the Czech Republic, Hungary, Poland, Romania, Slovakia and Switzerland. Shell Gas Polska distributed over 60 million gallons of LPG in Poland in calendar year 2009. Terms of the transaction were not disclosed.
Lon R. Greenberg, chairman and chief executive officer of UGI, said, aShell Gas Polska is the third European LPG acquisition announced by UGI since August. Together these transactions have more than doubled Flagaa™s annual sales volume by expanding in three markets that we view as attractive, Denmark, Hungary and Poland. As part of our overall strategy to add value for our shareholders, we will continue to seek profitable growth in Europe.a
UGI is a holding company with propane marketing, utility and energy marketing subsidiaries. Through subsidiaries, UGI owns 44% of AmeriGas Partners, L.P., the nation's largest retail propane marketer, and owns Antargaz, one of the largest LPG distributors in France.
Comprehensive information about UGI Corporation is available on the Internet at [ http://www.ugicorp.com ]
This press release contains certain forward-looking statements which management believes to be reasonable as of todaya™s date only.Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond managementa™s control.Among them are adverse weather conditions, cost volatility and availability of all energy products, including propane, natural gas, electricity and fuel oil, increased customer conservation measures, the impact of pending and future legal proceedings, domestic and international political, regulatory and economic conditions including currency exchange rate fluctuations, particularly the euro, and the timing and success of our acquisitions and investments to grow our business.You should read UGIa™s Annual Report on Form 10-K for a more extensive list of factors that could affect results.UGI undertakes no obligation to release revisions to its forward-looking statements to reflect events or circumstances occurring after today.
