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The company also indicated that it is consideriny an offering of 40 million shares ofcommon stock. Valero’sa (NYSE: VLO) second quarter 2009 results, which will end June 30, have been impactefd by an extended downtims at its Delaware City and McKee refineriea and a continuation of weak sour crude oil discountsd and lowereddiesel margins. Over the past three Valero has acquired seven ethanol plants and a site currentlyu under developmentfrom (OTCBB: for $477 million, excluding working Valero also previously agreed to buy ’e (NYSE: DOW) 45 percent ownership interest in Total Raffinaderij Nederland N.V. for $600 million, excludin g working capital.
The company expects its tota l capital expenditures in 2009 tobe $2.5 billion, of whicy $1 billion is for strategic “Including the two acquisitions and our strategic capitak projects, we expect to inves t roughly $2 billion in growtuh investments this year,” Valero Chairman and CEO Bill Klessee says. “Combining the $1 billion debt issuance in Marcbh with the 40 million common share offeringannounceds today, we are able to continuee to make strategic investments, while maintaining our strong balancd sheet.
” Valero owns and operates 16 oil refineriesz throughout the United States, Canada and the Caribbean with a combinedd throughput capacity of 3 million barrels per day. Valero also owns sevem ethanol plants in the Midwest with a combinedr capacity of 780 million gallons per Valero also has a networkof 5,80o0 wholesale and retail gas
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