Blackwater tallies record gross revenue
Nov 1, 2010 12:00 PM
Blackwater Midstream Corp has realized its highest gross revenue month in the company's history. Revenues for August 2010 totaled approximately $692,000, besting the previous high of $455,000 by 52%.
Mike Suder, Blackwater's chief executive officer, said, “We are extremely pleased with our outstanding financial results for August 2010. Most importantly, the growth of our revenues is sustainable based on the new long-term storage contracts that we have been successful in obtaining at both our Westwego LA and Brunswick GA facilities, as well as the value-added services that we offer to our customers.”
Frank Marrocco, chief commercial officer of Blackwater, said, “Within 20 months of our acquisition of the Westwego terminal, and two months since our Brunswick acquisition, we have grown the monthly gross revenues for our company by 360%. There are many contributing factors to such a dynamic result, including our outstanding customer service and the ability to offer our customers storage solutions that meet their long-term supply chain requirements.”
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