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Valero Commits $1 Million to Support Hurricane Katrina Relief Efforts
Valero Commits $1 Million to Support Hurricane Katrina Relief Efforts
Published 09-01-05
Submitted by Valero Energy Corp
(NYSE:VLO) has pledged a $1 million donation to the American Red Cross Disaster Relief Fund to help those affected by Hurricane Katrina.
"This is a national tragedy and we're very concerned about the thousands of people who are going through such a difficult time in the wake of this disaster," said Valero Chairman and CEO Bill Greehey.
"The Red Cross does a great job to ensure that the money goes directly to the relief efforts and helps the people who need it most. It's the best way that we can reach out and help people in need at a time like this.
"We have also had an overwhelming response from our employees wanting to help those who have been devastated by the storm. In addition to our $1 million donation, our 22,000 employees across the United States, Canada and the Caribbean region are also making contributions to the Red Cross, along with other efforts ranging from blood drives to food and clothing drives to volunteer efforts supporting hurricane victims in temporary shelters. This is true to form for Valero employees because they always pull together to help others in their time of need."
Greehey said that Valero also is sending truckloads of food and supplies from its retail distribution center in San Antonio to emergency shelters in the impacted area. And because fuel availability is a problem in the region, the company is providing fuel trucks from its St. Charles, La. refinery to provide fuel for local emergency services.
Valero owns and operates two refineries in Southern Louisiana, including the St. Charles refinery that is just 15 miles west of New Orleans. The company also has several retail sites, pipelines, asphalt terminals and refined product terminal operations throughout the region.
"We have about 1,000 employees in the impacted area, and at this point we are very hopeful that all of them are safe," said Greehey.
"It may be a while before we know the extent of the damage our employees will face when they are finally allowed to return home. But we are monitoring the situation very closely and we will provide financial assistance as well as any other assistance needed to help any impacted employees get back on their feet."
Valero is also undertaking several efforts to support and temporarily house employees who have been displaced by the storms. The company is coordinating delivery of at least 20 portable living trailers to the St. Charles refinery and a 150-foot by 100-foot air-conditioned tent. The company also is sending shipments of food and water and mobile kitchen equipment and cooks from San Antonio. In addition, Valero is sending electrical generators and is installing satellite hook-ups at the refinery to improve telephone and electronic communications. Assisting with these efforts and the safe re-start of the St. Charles refinery will be a 20-person electrical crew from Valero's Corpus Christi and Three Rivers, Texas refineries, and a crew of maintenance employees from the company's corporate headquarters in San Antonio. Start-up of the refinery, which was shut down Sunday but incurred no significant damage, is expected to take approximately two weeks.
Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and annual revenue of about $70 billion. The company owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation's largest retail operators with more than 4,700 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. Please visit www.valero.com for more information.
Copyright Business Wire 2005
