Colonial Pipeline Completes Acquisition of Refined Product Terminals
(P&GJ) — Colonial Pipeline Company has completed the acquisition of three refined product terminals from Lincoln Terminal Company, a Southeast products and biofuels marketing and logistics company.
The new business will operate under the brand name Colonial Premier Terminals.
Two of the terminals acquired, located in Charlotte, NC and Chattanooga, TN, are presently connected to the Colonial Pipeline Company system, and the other, located in Fredericksburg, VA, is connected to Plantation Pipe Line.
“This acquisition provides an excellent opportunity for Colonial to move into the terminal business, offers a complementary service to Colonial Pipeline Company’s current customers, and lays the groundwork for further strategic expansion,” said Joe Blount, President and CEO of Colonial Enterprises.
“The acquisition process has gone smoothly and we expect Colonial will leverage its operations experience and extend it to the terminal business,” said Larry Burgamy, CEO and President of Lincoln.
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