Valero 2003 Annual Report Download - page 14
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Please find page 14 of the 2003 Valero annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.12
topgeographicdiversity
With reneries stretching from Canada to California, Valero has the most geographically diverse
systemamongtheindependentreners.What’smore,thecompanyrecentlyexpandeditssystemto
theCaribbeanwithitsacquisitionoftheArubarenery.
Valero’stremendousgrowthoverthelastfewyearshasenabledthecompanytoreachnewmarketsand
increaseitsexposuretosomeofthebestreningmarketsinNorthAmerica.Withasizeablepresence
infouroftheveU.S.reningregions,Valeroisabletocapitalizeontheupswingsinregionalmargins
sincereningmarginsdon’talwaysmovetogether.Ifoneregionisoutperforminganother,Valerois
inapositiontotakeadvantageofit.
AsValero’sreningfootprinthasgrown,sohasitswholesalenetwork,whichnowhaslocationsfrom
theEastCoasttotheWestCoast.Inaddition,Valero’sretailbusinessisamarketleaderthroughout
theSouthwestwithstoresin11states.AndinCanada,Ultramaristhelargestindependentgasoline
retailerinQuebecandtheCanadianAtlanticprovinces.
Withoutadoubt,Valero’srecentgrowthhasreallyputthecompanyonthemap!
Bill Klesse, Executive Vice President & Chief Operating Ofcer, oversees a geographically
diverse network of operations stretching from the Jean Gaulin renery in Quebec to the
U.S. Gulf Coast and West Coast. Valero’s geographic diversity strengthens the company’s
competitive position, while adding stability to its earnings.