Dollar drop too late for Caltex

Caltex's attempts to stabilise its business will not make it immune from currency swings.

The sudden drop in the Australian dollar has arrived too late for Caltex (CTX).

Last year it finally opted to shut down its Kurnell refinery in 2014, converting it into an import facility, after deciding the ageing facility could no longer compete with the rapid growth of capacity from new Asian mega-refineries.

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