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IRVING, Texas -- Exxon Mobil Corp. will sell its 25 service stations in Hampton Roads, Virginia as part of the company's shift away from owning and operating retail facilities, The Virginian-Pilot reported.
The company decided some time ago to turn over its gasoline retailing to independent owners and operators because of competition in gasoline retailing and low barriers to entry, said Kevin Allexon, an Exxon Mobil spokesman.
The stations are being acquired by Doswell Ventures, an affiliate of Mechanicsville-based Woodfin Oil Co., a family-owned company with operations in gasoline retailing, heating-oil sales and heating-and-cooling service, who already owns and operates 30 gas stations in Virginia, Allexon said. Seven are Exxon stations in the Richmond and Fredericksburg markets, the report stated.
The stations being sold are in Norfolk, Virginia Beach, Chesapeake, Newport News and Williamsburg, and the sale is scheduled to close by the end of November. The stations will continue to carry the Exxon name, Allexon said in the report. The price isn't being disclosed.
Exxon Mobil notified the Virginia Employment Commission that 216 employees in the region would be laid off in October. However, the employees are expected to join Doswell Ventures, Allexon said. Most of the 216 work at the stations being sold, and a few have jobs elsewhere in the region, he said in the report.
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