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Petrol Acquires EL-TEC Mulej to Strengthen Energy Division

Ljubljana, 19 August (STA) - Energy company Petrol said on Friday it had purchased 74.9% of EL-TEC Mulej, a company specialising in district heating systems, water distribution systems, lighting, and energy management of buildings, for an undisclosed sum.

EL-TEC Mulej is present in Slovenia, Croatia, Bosnia-Herzegovina, Serbia, Kosovo and Macedonia, as well as in Italy and Austria. The company with 40 employees recorded a turnover of EUR 10m in 2010, while its net profit in the same year stood at EUR 406,000.

Petrol CEO Tomaz Berlocnik said that the purchase was in line with the company's strategic guidelines to offer comprehensive energy and environment-related energy solutions to its clients in the field of municipal energy and industry.

Petrol's core business is the sale of oil derivatives but the group has recently been busy branching out into electricity sale, district heating systems and ecological services.

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