Vopak acquires bulk storage terminal in Altamira, Mexico

Feb 7, 2002 12:00 PM

Koninklijke Vopak NV (Royal Vopak) has reached agreement with Chicago-based GATX Corporation to acquire chemical tank storage majority interests in Terminal de Productos Especializados, SA de CV (TPE) in Altamira, Mexico, according to information from Vopak.

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 located on the Gulf coast. The acquisition is also an addition to Vopak’s existing terminal network in Mexico, which includes terminal operations in Coatzacoalcos, Manzanillo, and Vera Cruz.

The newly acquired liquid bulk storage facility in Altamira enables Vopak to provide full third-party service to the chemical industry in this important industrial region. The terminal is used for the storage and handling of chemicals of mainly US Gulf coast origin. The total capacity of the terminal is 59.700 million cubic barrels (CBM).

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. Vopak will however continue to operate this facility on behalf of BASF.