SOCAR to launch new premium brand in late 2012

Azerbaijan`s state oil firm, SOCAR, said it plans to launch its new premium brand, “Esso Switzerland”, in the 3rd quarter of this year. According to the company, it wants to ensure flawless operations of the acquired network and to create a highly accepted brand in Switzerland.

The Esso brand will remain in place on retail sites for up to 12 months following change in control (CIC) in order to facilitate SOCAR`s transition to a new retail brand. De-branding of the aviation business as well as trucks and product tanks will occur within thirty days of CIC. Using Swiss branding experts, SOCAR will then launch a new premium brand in Switzerland. The re-branding of Esso Switzerland retail sites will commence following completion of the transitional period. SOCAR will stand for top quality, excellent customer service and high environmental and management standards.

Last November SOCAR signed a Sale and Purchase Agreement with ExxonMobil Central Europe Holding GmbH for the share sale of ExxonMobil`s Swiss affiliate, Esso Schweiz GmbH with the intention of continuing the business operations of Esso Switzerland and providing on-going high quality services for the company`s customers, employees, contractors and partners.


/AzerTAc/