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Sep 1, 2003 12:00 PM

Koninklijke Vopak N V (Royal Vopak) has reached agreement with The Dow Chemical Co on the acquisition of the latter's chemical tank terminal in Long Beach CA.

The Long Beach Dow facility consists of 55 tanks with a total capacity of 56,000 cbm (357,000 bbls) and specializes in chemical handling. Besides Dow, several other customers are using the terminal. All of the current tenants have committed to long-term agreements to remain in the facility.

Gene Sabatier, president of Vopak Logistics North America, said, “This acquisition expands our North American chemical storage offering. Adding this facility to our other two facilities in the direct neighborhood puts us in a strong position in the Los Angeles Basin. This acquisition brings our capacity there up to 431,400 cbm (2,750,000 bbls).”