Oral History Interview with Stephen E. Van Nostrand, April 20, 1987 Page: 33
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33
Marcello:
Van Nostrand:We had a different relationship with Koa than we had
with NPRC. In the case of Nippon, two entities-Nippon and
Caltex--had formed a 50-50 venture, a new venture.
And this is Nippon Petroleum Refining Company.
That's right. In the case of Koa, we bought into an
existing oldline oil company which had in the immediate
postwar years a great desire for and interest in becoming
an integrated operation. They didn't want to be just a
refiner. This was part of the struggle with them through
the years. The other thing was that by having bought into
an existing company, the man on the street owned 50 percent
of Koa, and he was Japanese. The other half was owned by
Caltex. So we always had to be in this case very sensitive
to the operation of the company with respect to those local
shareholders. In the case of Nippon Petroleum Refining
Company, all we had to do was to have an understanding
with Nippon Oil, and it was a simpler arrangement to
administer.
But Koa fitted into the operation very well because,
as I say, they were such an efficient company, and they
could be used as a benchmark operation for us to evaluate
how well or how poorly we were doing in NPRC. It was an
easier thing than to evaluate with the competition, where
the information is protected and not as easy to come by.
So it played a very important part, especially in the growth
years.
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Marcello, Ronald E. & Van Nostrand, Stephen E. Oral History Interview with Stephen E. Van Nostrand, April 20, 1987, book, April 20, 1987; Denton, Texas. (https://texashistory.unt.edu/ark:/67531/metadc306889/m1/35/?q=%22~1%22~1&rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Oral History Program.