The Saint John-based company operates Canada’s largest refinery, and is a major employer in New Brunswick and the region., the company said a review was underway, but that “no decisions have been made about where this strategic review may lead.”
“Consideration will be given to a new ownership structure, a full or partial sale, or a change in the portfolio of our assets and how we operate them,” read the statement, which was signed by Arthur Irving, Ian Whitcomb and Sarah Irving. Arthur Irving is chairman of Irving Oil, Whitcomb is president, and Sarah Irving is the executive vice-president.The statement goes on to say that the company will evaluate options “in the coming months” but that they were focused on its team, customers and communities.
Irving Oil, which was founded in 1924 by K.C. Irving, has more than 900 gas stations and a network of distribution terminals. It also operates Ireland’s only refinery.
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Strategic review of Irving Oil under way, including possible sale of businessIn a statement on its website, Irving Oil says consideration will be given to a new ownership structure, a full or partial sale, or a change in its portfolio of assets and how it operates them
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Irving Oil considers sale of company as part of strategic review | CBC NewsIrving Oil, one of the largest and most powerful companies in New Brunswick, has launched a strategic review that will consider, among other things, 'a full or partial sale' of the company, according to a statement issued Wednesday.
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