Kaneb has announced that an operating subsidiary of Kaneb Pipe Line Partnership LP acquired 100% of the shares in Ross Chemical & Storage Co Ltd. The assets of Ross consist of a chemical and petroleum storage terminal at Grangemouth, Scotland that provides storage and terminal services for various petroleum and chemical customers.
The terminal will complement Kaneb's existing Scottish terminals in Leith and Clydebank. This latest acquisition consists of 44 storage tanks with a combined capacity of almost 400,000 barrels.