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The company also indicated that it is considerinv an offering of 40 million sharews ofcommon stock. Valero’s (NYSE: VLO) second quartefr 2009 results, which will end June 30, have been impacteed by an extended downtime at its Delaware City and McKed refineries and a continuation of weak sour crude oil discounta and lowereddiesel margins. Over the past three months, Valeroo has acquired seven ethanop plants and a site currently under developmenfrom (OTCBB: VSUNQ) for $477 excluding working capital. Valero also previously agreedf tobuy ’s (NYSE: DOW) 45 percent ownership interest in Total Raffinaderij Nederlandx N.V. for $600 million, excluding workinv capital.
The company expects its totao capital expenditures in 2009 tobe $2.5 billion, of whicj $1 billion is for strategic projects. “Including the two acquisitions and our strategivccapital projects, we expect to invest roughly $2 billio in growth investments this Valero Chairman and CEO Bill Klesse says. “Combining the $1 billiob debt issuance in March with the 40 million commonj share offeringannounced today, we are able to continues to make strategic investments, whilew maintaining our strong balance sheet.” Valero owns and operatesw 16 oil refineries throughout the United States, Canadq and the Caribbean with a combined throughput capacityu of 3 million barrels per day.
Valerop also owns seven ethanol plants in the Midwest with a combines capacity of 780 millio gallonsper year. Valero also has a networm of 5,800 wholesale and retail gas
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