Caltex Australia: Short-Term Outlook Difficult
SYDNEY -(Dow Jones)- Caltex Australia Ltd. (CTX.AU) Chief Executive Julian
Segal said Thursday the short-term outlook for the company was "difficult" but
that he was optimistic about the long term.
"The short-term outlook is difficult because of the impact of the global
financial crisis, but we are more optimistic about the longer term due to Asian
growth," he said in a speech in Melbourne.
The company needs to grow through mergers and acquisitions, Segal said, noting
there may be opportunities in Australia's energy sector.
"Current activities will continue as a key part of Caltex's business strategy.
In addition, Caltex will need to achieve its growth aspirations by executing
successful adjacent step-out and merger and acquisition opportunities," he said.
"There are many opportunities available to Caltex as a middle-sized company in
the Australian energy sector, which we will now investigate."
-By Alex Wilson, Dow Jones Newswires;
61-3-9292-2094; alex.wilson@dowjones.com
(END) Dow Jones Newswires
11-11-092120ET
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