Server: Netscape-Commerce/1.12 Date: Wednesday, 19-Nov-97 23:58:33 GMT Last-modified: Monday, 28-Apr-97 01:48:07 GMT Content-length: 7008 Content-type: text/html Ultramar Diamond Shamrock Financial Information

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Merger Leverages Strengths and Creates New Opportunites

   The merger of Diamond Shamrock, Inc. and Ultramar Corporation on December 3, 1996, into Ultramar Diamond Shamrock Corporation, leveraged both companies considerable strengths in petroleum refining and marketing and created new opportunities for cost savings and strategic expansion.

    In the merger of equals, each share of Diamond Shamrock stock was converted into 1.02 shares of Ultramar common stock. The new company has combined revenues of more than $9 billion, an estimated $4 billion in assets, and approximately 17,000 employees.

    Ultramar Diamond Shamrock will benefit from enhanced earnings growth prospects, less earnings volatility, increased geographic diversity of revenues, and significant merger savings. Cost savings related to the merger are projected to be at least $75 million annually, primarily from operating synergies and reduction of overhead and administrative costs.

    Bookmark this page to access financial reports using EDGAR, the Securities and Exchange Commission's electronic filing system, news from our Press Release Library, a current stock quote for Ultramar Diamond Shamrock Corporation (NYSE: UDS), or to request an Annual Report.

Ultramar Diamond Shamrock 1996 Annual Report

Press Release Library

EDGAR Financial Reports for Diamond Shamrock

EDGAR Financial Reports for Ultramar Corporation

Stock Quote Service


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Ultramar Diamond Shamrock Corp. : Financial Information

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