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| | Phillips, Ultramar Diamond Shamrock join forces 11/10/98 (Site not responding. Last check: 2007-11-04) |
 | | Once fierce rivals in the Panhandle, Ultramar Diamond Shamrock and Phillips Petroleum Co. agreed in early October to put together their refining, marketing and transportation operations into one company - Diamond 66 that will be a subsidiary of Ultramar Diamond Shamrock. |
 | | After approval from directors of both companies, Diamond 66 will become the name of the new venture that will be headquartered in San Antonio, and credit card, pipeline, lubricants and other functions based in Bartlesville, Okla. The arrangement is expected to be in place by the end of the first quarter of next year. |
 | | In announcing the deal, Roger Hemminghaus, Ultramar Diamond Shamrock chairman, said the joint venture will save the companies about $250 million a year, beginning with the second year of joint operations, and about $50 million a year in capital expenditure savings. |
| businessjournal.net /stories/111098/ABJ_join.html (773 words) |
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