Petroleum Consolidators Reports Growth

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Petroleum Consolidators Reports Growth

WEST PALM BEACH, Fla. -- Petroleum Consolidators of America Inc. (PCAI), a gas station and facilities consolidator, saw unaudited gasoline and c-store sales improve at its CITGO and Valero-branded stations since it acquired the two sites earlier this year.

The company reported that its CITGO-branded station and c-store, which it acquired in May 2007, posted unaudited sales of $347,000 for the month of May and $447,000 in total unaudited sales for June -- a 29 percent month-over-month increase in sales.

"We are pleased to see a number of substantial improvements occurring at both of our recently-acquired stations," Petroleum Consolidators president and CEO, David Cohen, said in a written statement. "Management remains committed to maintaining significant top- and bottom-line growth at each station as we move forward to pursue additional acquisition candidates, and ensure successful implementation of our business plan."

As previously reported by CSNews Online, PCAI -- formerly named PetroPlus USA, and before that, Striker Capital -- expects to acquire at least six retail gas stations, with expected revenue of $22 million and $2.3 million in income.