MarketWatch: Shell plans car-maintenance JV in China: “Royal Dutch/Shell Group (RD, SC) said Monday it plans to launch a car-maintenance joint venture in China modeled on its Jiffy Lube stores in the U.S.”: “Shell acquired Jiffy Lube in 2002 as part of its purchase of Pennzoil-Quaker State Co. Jiffy Lube has 2,200 outlets in North America serving 80,000 cars per day.” (ShellNews.net) 18 April 05
SHANGHAI (MarketWatch) -- Royal Dutch/Shell Group (RD, SC) said Monday it plans to launch a car-maintenance joint venture in China modeled on its Jiffy Lube stores in the U.S.
The joint venture will be called Anji Jiffy Lube Automotive Services Co.
Shanghai Automotive Industry Sales Corp., a unit of Shanghai Automotive Group Co., will hold a 50% stake, and Shell China Holdings B.V. and Shell (China) Ltd. will hold respective stakes of 40% and 10%, a statement issued by Shell said.
Shell said the total investment of the joint venture will be US$23 million and 10 pilot outlets will be launched in Shanghai within the first year of operation before expanding to the rest of China. By 2015, the joint venture aims to have a network of more than 600 outlets across China, it said.
The outlets will carry the name Jiffy Lube Automotive Preventive Maintenance Centre and will display Jiffy Lube and Anji logos, Shell said. Shell will be the main provider of the lubricants sold in the shops.
Shell acquired Jiffy Lube in 2002 as part of its purchase of Pennzoil-Quaker State Co. Jiffy Lube has 2,200 outlets in North America serving 80,000 cars per day.
-Edited by Andrew Bullard
http://www.marketwatch.com/news/story.asp?guid=%7B9DB7A7DE-D9AD-4364-94AC-B4C68C97DA71%7D
Click here for ShellNews.net HOME PAGE