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Cosan S.A. Industria e Comercio to acquire Comma Oil & Chemicals Limited01/03/2012 Cosan S.A. Industria e Comercio to acquire Comma Oil & Chemicals Limited London, March 1st 2012 – Cosan S.A. Indústria e Comércio ("Cosan") announced today its intention to enter into the European lubricants & specialties market by signing a Sale and Purchase Agreement ("SPA") with Esso Petroleum Company, Limited (EPCo) to acquire Comma Oil & Chemicals Limited ("Comma"). Comma, which is located in Kent, England, is a wholly-owned subsidiary of EPCo. It manufactures and supplies lubricants, seasonal and car care products to the UK and other export markets in Europe and Asia, primarily under the Comma brand. The acquisition of Comma by Cosan includes finished lubricants and chemicals manufacturing and sales to third parties; all assets located at Comma's Gravesend site in Kent, England; and ownership of the Comma trademarks and brands. During a transition period, which is expected to be completed by the third quarter of 2012, Comma will continue to operate as normal under the Comma brand. All current contracts will remain unchanged. It is anticipated that Comma will continue to manufacture and sell Comma-branded and private label products following change in control (CIC), in order to facilitate Cosan's entry into the European lubricants market. Cosan intends to grow the business operations of Comma and to provide on-going high quality products and services for the company's customers. "Cosan is delighted at our successful purchase of this business," commented Nelson Gomes, Cosan Executive Director. "We will continue the ongoing, flawless operation of the Comma business by ensuring the highest standards of customer service, management and environmental practices. Under Cosan's management, Comma will continue to offer automotive customers in the UK and export markets a wide range of first-class lubricants, seasonal and car care products." Commenting on Cosan's future intentions, Mr. Gomes stated, "In the coming years, one of Cosan's strategic objectives is to diversify and expand internationally. The purchase of Comma is Cosan's first manufacturing operation in Europe, and will provide Cosan, not only access to the European lubricants & specialties markets, but will also increase its knowledge and expertise in marketing automotive products in developed and mature Countries." A Positive Outlook for Comma Workforce Currently 215 employees work for Comma. On Cosan's intentions toward the employees of Comma, Mr. Gomes commented, "One of the main drivers for Cosan in deciding to buy Comma was the quality, skills and expertise of the Comma workforce, who have demonstrated professionalism and commitment to achieving outstanding results for many years. There are no plans for any redundancies as part of the purchase; Cosan recognises the existing workforce as an important asset and significant benefit to our plans to grow the Comma business in the future". For Media Enquiries, please contact: Cosan Media Relations: Comma Media Relations: |
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