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The Honolulu Advertiser
Posted on: Thursday, July 22, 2004

Business briefs

Advertiser Staff

Company buys Union 76 outlets

Singapore-based investment holding company K1 Ventures Ltd., yesterday announced an agreement to buy 34 Union 76 brand gas stations statewide for $38.2 million.

K1 will acquire the gas stations on three islands from ConocoPhillips. In 2002 another unit of K1 Ventures bought The Gas Co., which produces and sells natural gas statewide and is based in Honolulu, for $115 million.

Houston-based ConocoPhillips said it wants to focus on its gas stations that are served by its own refineries. The acquisition of the gas stations is expected to be completed by Aug. 31.

Honolulu call center planned

Automatic Data Processing, a leading provider of outsourced payroll and human resource services nationally, is expanding its presence in Hawai'i with the opening of a service center in Honolulu.

The plans are based on ADB's acquisition earlier this year of CBS Payrolls of Hawaii. Former CBS employees will form the core staff of ADB's new service center on Kapi'olani Boulevard.