Valero to Purchase SemLogistics Milford Haven Fuel Storage Facility
LONDON, Feb. 23, 2018 (GLOBE NEWSWIRE) -- Valero Logistics UK Ltd, a subsidiary of Valero Energy Corporation (NYSE:VLO), and SemGroup Europe Holding L.L.C., a SemGroup Corporation company, have today signed an agreement for the purchase of SemLogistics Milford Haven fuel storage facility on the west coast of Wales.
Situated across the Haven from Valero's refinery at Pembroke, the facility is one of the largest petroleum products storage facility in the United Kingdom (UK) with 8.5 million barrels of capacity for storing gasoline, gasoline blendstocks, naphtha, jet fuel, gas oil, diesel, and crude oil. Over 67 percent of the storage capacity is multiproduct or dual purpose, giving Valero the flexibility to meet customers' demands in the UK and throughout Northwest Europe. Additionally, Milford Haven will continue to operate as a third-party storage facility, offering storage options for third party customers across the European petroleum markets.
"This facility complements our Pembroke refinery and fuel terminal in the UK and Ireland, making it a natural fit for the company," said Joe Gorder, Valero Chairman, President and Chief Executive Officer. "This purchase demonstrates Valero's commitment to Wales and the UK, and it aligns with our strategy to grow the logistics business and reduce secondary costs," added Gorder.
Subject to customary regulatory approvals, Valero expects the purchase be completed in the third quarter of 2018. Valero also expects to retain the UK employees currently engaged in the business to be acquired.
Valero Logistics UK Ltd, a subsidiary of Valero Energy Corporation, operates terminals and pipelines in the UK. Valero Energy Ltd, its affiliate, markets fuel in the UK and Ireland under the Texaco brand, of which approximately 850 of the branded service stations are located in the UK and 230 in Ireland. Valero Energy Ltd also owns and operates Pembroke Refinery in southwest Wales, which is one of Europe's largest and most complex refineries. The company has ownership interests in four major pipelines, seven fuel terminals, and a 14,000 barrels per day aviation fuels business.
Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels and other petrochemical products. Valero, a Fortune 50 company based in San Antonio, Texas, with approximately 10,000 employees, is an independent petroleum refiner and ethanol producer, and its assets include 15 petroleum refineries with a combined throughput capacity of approximately 3.1 million barrels per day and 11 ethanol plants with a combined production capacity of 1.45 billion gallons per year. The petroleum refineries are located in the United States (US), Canada and the UK, and the ethanol plants are located in the Mid-Continent region of the US. In addition, Valero owns the 2 percent general partner interest and a majority limited partner interest in Valero Energy Partners LP, a midstream master limited partnership. Valero sells its products in both the wholesale rack and bulk markets, and approximately 7,400 outlets carry Valero's brand names in the US, Canada, the UK and Ireland. Please visit www.valero.com for more information.
John Locke, Vice President - Investor Relations, 210-345-3077
Karen Ngo, Senior Manager - Investor Relations, 210-345-4574
Lillian Riojas, Director - Media Relations and Communications, 210-345-5002
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Valero Energy Corp. via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Platinum Equity to Sell Worldwide Flight Services for €1.2 Billion19.6.2018 15:00 | Pressemelding
Successful investment adds to Platinum Equity's continued momentum in Europe LOS ANGELES, June 19, 2018 (GLOBE NEWSWIRE) -- Platinum Equity today announced it has signed a definitive agreement to sell Worldwide Flight Services (WFS) to affiliates of Cerberus Capital Management, L.P. in a transaction valued at approximately €1.2 billion. The sale is expected to close during Q4 2018, subject to regulatory approval and certain closing conditions. Since Platinum Equity acquired the company in 2015, WFS has grown significantly, both organically and through a transformative add-on acquisition, and is now the world's largest air cargo handler and one of the world's leading providers of ground handling and technical services, with annual revenues of more than €1.2 billion. "Through a combination of growth and operational initiatives, WFS has evolved and expanded significantly over the past three years and today enjoys record top-line and earnings performance," said Platinum Equity Partner Loui
Quantenna's New QSR10GU-AX Plus Raises the Bar for Wi-Fi Performance and Functionality19.6.2018 14:00 | Pressemelding
SAN JOSE, Calif., June 19, 2018 (GLOBE NEWSWIRE) -- Quantenna Communications, Inc. (NASDAQ:QTNA), the innovator and global leader of high performance Wi-Fi solutions, today announced that the QSR10GU-AX Plus, a new enhanced solution targeting gateways and access points based on the draft IEEE 802.11ax standard, is now sampling to select customers. Building upon Quantenna's pioneering QSR10G-AX Wi-Fi platform, QSR10GU-AX Plus offers unique capabilities, including Adaptive 5 GHz, SuperTx and ESP, providing significant performance gains across a variety of home configurations. The QSR10GU-AX Plus can operate concurrently in both 8x8 MIMO in the 5 GHz band and 4x4 MIMO in the 2.4 GHz band supporting a total of 12 streams. Unique features of QSR10GU-AX Plus include: Dynamic switching between 8x8 MIMO and dual 4x4 MIMO in the 5 GHz band by applying adaptive algorithms, enabled by Quantenna's unique baseband and RF architecture design. This provides the end users with the best possible MIMO c
CrownBio Enters Partnership with Pierre Fabre to Accelerate Discovery and Development of Immuno-Oncology Agents19.6.2018 14:00 | Pressemelding
SAN DIEGO, June 19, 2018 (GLOBE NEWSWIRE) -- Crown Bioscience, a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, announces that it has been selected by Pierre Fabre Research Institute as one of their partners to advance their immuno-oncology drug discovery pipeline. CrownBio boasts the world's largest collection of patient-derived xenograft (PDX) models and is a leading provider of humanized solutions for immuno-oncology drug development. Leveraging these exclusive capabilities, CrownBio will engraft PDX models selected by Pierre Fabre into CD34+ humanized mouse models. These customized, humanized models will be used to accelerate Pierre Fabre's innovative immuno-oncology drug discovery pipeline. "Pierre Fabre recognizes the value of CrownBio's extensive PDX collection and their expertise in implementing innovative humanization strategies," said Nathalie Corvaia, P
Glatfelter to Acquire Georgia-Pacific's European Nonwovens Business for $185 Million19.6.2018 13:44 | Pressemelding
YORK, Pa., June 19, 2018 (GLOBE NEWSWIRE) -- June 19, 2018 - Glatfelter (NYSE:GLT), a global supplier of specialty papers and engineered materials, today announced it has signed a definitive agreement to purchase Georgia-Pacific's European nonwovens business (the "Business") for $185 million, subject to customary purchase price adjustments. The proposed transaction includes Georgia-Pacific's operations located in Steinfurt, Germany, along with sales offices located in France and Italy. The Steinfurt facility produces high-quality airlaid products for the table-top, wipes, hygiene, food pad, and other nonwoven materials markets, competing in the marketplace with nonwoven technologies and substrates, as well as other materials focused primarily on consumer based end-use applications. The Steinfurt facility is a state-of-the-art, 32,000-metric-ton-capacity manufacturing facility that employs approximately 220 people. "Glatfelter's agreement to acquire the European nonwovens business demon
Industry stakeholders partner on blockchain based margin and collateral solution19.6.2018 13:00 | Pressemelding
AMSTERDAM, the Netherlands, BRUSSELS, Belgium, LONDON and STOCKHOLM, Sweden, June 19, 2018 (GLOBE NEWSWIRE) -- ABN AMRO Clearing, EuroCCP, Euroclear and Nasdaq have completed a joint proof of concept to make the use of securities more efficient when used to cover margin calls, including after business hours, using blockchain, or distributed ledger technology (DLT). This solution addresses significant business challenges and inefficiencies related to the current provision of collateral to Central Counterparties (CCPs) and has demonstrated that a shared, resilient network can be built between collateral givers, collateral takers and intermediaries. The inefficiencies of collateral processing have been heightened as a result of recent market changes such as extended trading hours by stock exchanges and the requirement to centrally clear derivatives traded bilaterally (OTC) under the European Market Infrastructure Regulation (EMIR). Today, a CCP margin call typically needs to be covered by
PubMatic Launches PubMatic Cloud to Evolve the SSP Business Model19.6.2018 09:00 | Pressemelding
New offering provides publishers and tech companies with a transparent alternative to revenue shares REDWOOD CITY, Calif., June 19, 2018 (GLOBE NEWSWIRE) -- PubMatic, the publisher-focused sell-side platform (SSP) for an open digital media future, today announced the launch of PubMatic Cloud for publishers and tech companies looking to implement and control their own programmatic technology. By accessing PubMatic's technology, global infrastructure and demand connections on a platform-as-a-service (PaaS) basis, clients are able to achieve full transparency and achieve greater control over their programmatic monetization. As programmatic trading becomes mainstream, innovations such as header bidding and fraud controls have resulted in gains for publishers. However, it has also contributed to the ballooning of infrastructure costs and overhead to manage integrations with the buy-side and third-party technology vendors as well as continuously evolving technology. The ability to keep pace
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom