Following an agreement in June this year, Montreal, Canada-based World Point Terminals has closed the $9.1 million (6.1 million) acquisition of a 680,000 barrel petroleum storage facility in West Virginia, US.
World Points subsidiary, Center Point Terminal Company, bought the facility from a subsidiary of Apex Oil Company. The deal completes the acquisition of the Weirton terminal facility.
In June, Center Point also bought about 4.3 hectares of land underlying the Weirton facility from ArcelorMittal Weirton, an unrelated party, for $743,000.
That deal was subject to the remaining term of a land lease to the Apex Oil subsidiary.
World Point owns and operates 17.1 million barrels of liquid bulk storage and terminal facilities located in North America and the Bahamas.
These facilities store, blend, and transship petroleum and other liquid products