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SAN RAMON, Calif. -- ChevronTexaco Products Co. will today begin marketing gasoline under the Texaco retail brand and expects to be supplying more than 1,000 locations in southern and eastern states by the end of the year.
As part of its 2001 merger agreement, ChevronTexaco agreed to license the Texaco retail brand to Shell for the marketing and sale of gasoline on an exclusive basis until July 1. The companies will now share the brand rights for a two-year transition period until ChevronTexaco regains exclusive rights to the Texaco brand on July 1, 2006.
"We are thrilled to welcome back the Texaco brand to our retail network. Texaco is one of the most recognized brands in the world with a 100-year history of quality," said Shariq Yosufzai, president of global marketing for ChevronTexaco. "Working alongside our local marketers, we are excited about the opportunity to build the brand into its second century."
In July, ChevronTexaco will begin supplying Texaco stations in 13 southern and eastern states, from Texas through Maryland and the District of Columbia. ChevronTexaco plans on growing the brand by attracting marketers to the heritage of the Texaco star.
"Our goal is straightforward," said Danny Roden, vice president of North American marketing for Chevron Texaco. "Our objective is to invest in key geographies where we have or can build market and supply strength by offering premium gasoline products and a superior retail experience under two highly trusted brands."
Last month, ChevronTexaco gasoline became the first to meet new performance criteria set by automakers BMW, General Motors, Honda and Toyota for Top Tier Detergent Gasoline. Top Tier establishes criteria for detergency levels in gasoline higher than those currently set by the EPA. These automobile manufacturers have agreed that Top Tier gasoline results in better overall performance.