Royal Vopak agrees to acquire TPE interests
Mar 1, 2002 12:00 PM
Koninklijke Vopak NV (Royal Vopak) has reached agreement with Chicago IL-based GATX Corp on the acquisition of the latter's chemical tank storage majority interests in Terminal de Productos Especializados SA de CV (TPE) in Altamira, Mexico. At the same time, Vopak also reached agreement with the Mexican founders and shareholders to acquire the remaining minority shareholdings in the Altamira terminal facility.
Altamira, Mexico's second major seaport for liquid bulk products, is on the Mexican Gulf Coast. The acquisition is an addition to Vopak's existing terminal network in Mexico, which includes terminal operations in Coatzacoalcos, Manzanillo, and Veracruz. The newly acquired liquid bulk storage facility in Altamira is used for storage and handling of chemicals of mainly United States Gulf Coast origin. Total capacity of the terminal is 59,700 cbm, with 21 tanks including four spheres for storage of technical gases and LPG with a capacity of 20,000 cbm, and dedicated systems for handling sophisticated chemicals.
Vopak already owns and operates an industrial terminal facility in Altamira exclusively for the local BASF chemical complex. Vopak has agreed with BASF to transfer ownership of the industrial terminal facility to BASF. However, Vopak will continue to operate this facility on behalf of BASF.
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