Wakefield buys Toronto facility from BP Lubricants
TORONTO — Wakefield Canada has signed an agreement with BP Lubricants to purchase the Castrol Canada blending and packaging plant located in Toronto.
Under the terms of the agreement, Wakefield will assume ownership and manufacturing responsibility for the plant, blending and packaging most Castrol products for the Canadian marketplace.
Wakefield will continue to have exclusivity with respect to sales, marketing and distribution of Castrol consumer and commercial lubricants in Canada.
BP Lubricants will continue to retain ownership of the facility and operations during a transitional period during which BP Lubricants and Wakefield will work closely to ensure a seamless transition to Wakefield ownership sometime around midyear of 2010.
"We intend to deliver on our aspiration to be the clear leaders in the Canadian marketplace," said Bob MacDonald, president and CEO of Wakefield. "This is a strategic move for Wakefield and provides us with greater flexibility to deliver intuitive customer service within the Canadian marketplace."
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