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Exxon Mobil Expects to Reap over $8 Billion in Merger Savings by End of 2003.
Knight Ridder/Tribune Business News, March, 2002
By Charlene Oldham, The Dallas Morning News Knight Ridder/Tribune Business News
Mar. 6--HOUSTON --Exxon Mobil Corp. will realize more than $7 billion in savings and revenue growth by the end of this year and another $1 billion worth by the end of 2003 as a result of the mega-merger that created it, chairman and chief executive Lee Raymond said Tuesday.
The company -- born when Exxon Corp. acquired Mobil Corp. in 1999 -- also closed the second most profitable year in its history in 2001 despite a slowing worldwide economy and depressed oil and natural gas prices.
But what the company didn't do last year got top billing at a meeting with analysts at the oil giant's high-rise offices in downtown Houston. It didn't file for bankruptcy, nor did...
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