Australia's Caltex to Convert Kurnell Refinery into Fuel Import Terminal

PERTH, AUSTRALIA--August 16, 2012--Researched by Industrial Info Resources Australia (Perth, Australia)--Caltex Australia Limited (ASX:CTX) (Sydney, Australia) has decided that it can no longer sustain operations at the Kurnell Refinery, due to an inability to compete with larger, newer and more efficient refineries. The decision to permanently close the Kurnell Refinery and convert it to a large-scale import fuel terminal was announced on July 26, 2012, via an ASX announcement issued by Caltex Australia, detailing plans toward companywide supply chain restructuring. Other companies featured: Chevron Corporation (NYSE:CVX), Chicago Bridge & Iron (NYSE:CBI)