The SemLogistics terminal in Milford Haven, Wales, has been told that its future is secure despite its parent company filing for Chapter 11 bankruptcy in the US.
The terminal is the largest independent oil storage facility in the UK, but was put up for sale when parent company SemGroup applied for bankruptcy.
However, not only has a refinancing package has been put together, which means the company will not be selling off its Welsh subsidiary, but the managing director of SemLogistics, Nigel Passmore, expressed the companys desire to invest further in the Welsh terminal over the next two to three years.
