Kinder buys Marine Terminals assets
Kinder Morgan Energy Partners has announced it has purchased the assets of Marine Terminals, which primarily handles and stores steel and alloys, for approximately $100m
(KMP) has announced it has purchased the assets of
, which primarily handles and stores steel and alloys, for approximately $100m.
Marine Terminals handled approximately 13.4 million tons of steel products in 2006, at it’s five facilities across the
‘These strategically located terminals will continue to provide handling, processing, harbouring and warehousing services to Nucor Corporation, one of the largest steel and steel products companies in the world, under long-term contracts,’ said KMP Terminals President Jeff Armstrong. ‘Additionally, these facilities will provide Nucor and other customers further access to our growing national network of marine and rail terminals.’
The acquisition is expected to be immediately accretive to distributable cash flow at KMP.
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