Vopak strengthens Latin American network
Aug 1, 2003 12:00 PM
Koninklijke Vopak NV (Royal Vopak) has reached agreement with HCI/Brenntag on the acquisition of the latter's terminal interests in Venezuela (Puerto Cabello), Colombia (Barranquilla and Cartagena), and HCI/Brenntag's 50% participation in Sipressa with a terminal in Guayaquil, Ecuador.
This acquisition is a valuable addition to Vopak's existing terminal network in Latin America, which includes terminal operations in Brazil, Mexico, Chile, and Peru.
The terminals are mainly used for the storage and handling of raw materials from the United States Gulf Coast. The total capacity is 141,000 cbm of liquid storage and also includes dry bulk storage capacity.
Vopak has agreed on a long-term storage contract with the HCI distribution companies in Latin America for a substantial part of the total capacity.
These transactions are expected to generate a positive contribution to Vopak's net income for the year 2003.
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