Chevron Unveils New Hurricane Relief Program Designed to Help Marketers and Retailers Rebuild Businesses
Chevron & Texaco Hurricane Area Recovery Effort (CARE) Provides Forgiveness of Unamortized Incentive Repayment Obligations, Gas Discounts and Sign Assistance to Customers in Hardest Hit Areas of the Gulf Coast
SAN RAMON, Calif., Oct. 25, 2005 -- Chevron Global Marketing announced today that Chevron Products Company will forgive unamortized incentive balances, provide gas discounts to consumers, and repair/replace damaged signs at no cost as part of a new hurricane relief program geared toward supporting Chevron and Texaco marketers and retailers in their rebuilding efforts. The new program, named Chevron & Texaco Hurricane Area Recovery Effort (CARE), will also feature waiving sign and Electronic Point of Sale (EPOS) rental, and EPOS connectivity fees to select marketers and retailers hardest hit by recent hurricanes in Louisiana, Mississippi, Alabama, and Texas.
"This hurricane relief effort supports our values and long-standing tradition of improving the quality of life in the communities where we live and work," said Danny Roden, Vice President, North America Marketing. "We want marketers, retailers, and consumers to know about our unwavering commitment to supporting the community, especially during this time of need."
Elements of the CARE program include:
Amortization Forgiveness: Marketers with sites declared a total loss by district sales teams will have the unamortized portion of incentive repayment obligations forgiven. Sites must be abandoned or rebuilt as Chevron or Texaco.
Cash Flow Support: Sign and Electronic Point of Sale (EPOS) rents, and EPOS connectivity fees will be waived for the months of September, October, November and December for select locations.
Sign Repair and Replacement: Chevron will repair/replace hurricane damaged primary ID and Lighted Price Signs (LPS) signs at Chevron sites where the signs are owned by the company, and provide 100 percent reimbursement for repair/replacement of hurricane damaged primary ID and LPS signs at Texaco locations supplied by Chevron. Qualifying sites will be selected by the district sales teams.
Gas Discounts: Qualifying Chevron and Texaco credit card holders in selected counties/parishes of Alabama, Mississippi, Louisiana and Texas will receive five cents per gallon discount for up to 90 days for approved purchases beginning 11/1/05 and ending 1/31/06. The credit will be applied to the cardholder's monthly statement.
Chevron Corp. is one of the world's leading energy companies. With more than 47,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron Global Marketing is a division of Chevron Global Downstream LLC, a subsidiary of Chevron Corp. Chevron Products Company is a division of Chevron U.S.A. Inc., a subsidiary of Chevron Corp. Chevron is based in San Ramon, Calif. More information on Chevron is available at www.chevron.com.
Updated: October 2005