KMG subsidiary to expand retail network in Romania

In July this year in Romania were opened three new filling stations. By the yearend it is planned to open 9 more gas stations which will enable the Group to strengthen its market position in the Black Sea region, according to the Department of Communications and Public Relations of KMG International. New filling stations were constructed in major cities of Romania - Bucharest, with a population of over 2 million, in Sibiu and Satu Mare, the population of each exceeds 100,000. All the stations are built using the updated concept of the retail chain which implies new visual solutions and elements of Rompetrol brand, well-known to consumers not only in Romania but in the neighboring countries such as Moldova, Georgia and Bulgaria. Since the start of the program in Romania there were upgraded more than 100 filling and gas stations. For the first 6 months of the current year KMG International has increased the volume of processed raw materials in their production assets by more than 10% (oil refinery «Petromidia», «Vega», as well as the petrochemical complex in Romania) reaching 2.6 million tons in January - June 2014 and 2.9 million tons in the same period of 2015. At the same time, the group has improved its operating result (EBITDA) by 28% up to $81.9 million.