Watco Cos. LLC agreed to acquire 31 terminal operations from Kinder Morgan Terminals. Watco Terminal and Port Services will operate the locations, including 14 traditional rail to truck transload and switching facilities; 13 operations on inland waterways servicing bulk and break-bulk customers to and from barge, truck and rail; three sites providing deepwater transloading with material handling activities; and one inland river tank farm. Consideration for the terminals will be provided through an equity interest exchange with closing occurring in multiple phases beginning in first-quarter 2015.
Watco also named Will Patterson and Derek Penner as Terminal and Port Services senior vice presidents of marketing and sales. Patterson will focus on creating organic revenue growth across the company’s terminal network and the Greensport Industrial Park in Houston. Penner will manage the terminal services’ marketing effort for the Energy By Rail terminal network.
Watco is based in Pittsburg, Kan. and Kinder Morgan is based in Houston.
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