| With 1997 sales of 171 million FF (29 million dollars) and a 20% share of the domestic market, PB Gaz Szerviz Kft is a major player in the Hungarian LPG retailing industry. The company sold 70,000 metric tons of LPG product in 1997, mainly in the Panonia region west of the Danube, where demand is strong.
The acquisition has confirmed TOTAL's confidence in the future of the Hungarian LPG market, which has been growing steadily (+ 9% per year in the last 5 years).
The acquisition is in line with the Group's commitment to developing its downstream businesses in specialty segments and has strengthened its position in central Europe. TOTAL is already active in fuel retailing in Hungary and the Czech Republic, and in lubricants in Poland. |
