KAG, Coast Oil Co reach fleet conversion agreement
Sep 28, 2009 2:30 PM
The Kenan Advantage Group Inc (KAG) has reached a private fleet conversion agreement with Coast Oil Company, LLC. KAG will take over the companyís fuel delivery operations while continuing to provide dedicated services to Coast Oilís more than 100 retail dealers in Northern California. KAG will also purchase Coast Oilís private fleet that consists of six truck and trailer units. The agreement goes into effect October 1, 2009.
According to Mark Mitchell, owner of Coast Oil, ďBy aligning ourselves with KAG, we significantly enhance our economies of scale with access to over 5,000 drivers, 3,100 power units, and numerous terminal facilities throughout California.Ē
Coast Oil, founded in 1935, is one of the largest marketers of petroleum products in Northern California with more than 875,000 gallons of aboveground storage. The company also has 30,000 square feet of warehouse and office space. KAG will be leasing a portion of this space to better manage the newly acquired transportation operations.
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