In the US, Westway Groups wholly-owned subsidiary Westway Terminal Cincinnati has completed the acquisition of the storage assets, contractual relationships, and property of Southside River-Rail Terminal, located in Cincinnati, Ohio.
The purchase price for this acquisition was approximately $20 million (13.4 million) in cash. Southside River-Rail Terminal has been one of the largest independent, full service bulk liquid handling facilities in the Mid-West US.
This facility is immediately adjacent to an existing Westway owned liquid animal feed supplement operation, which will provide some synergies for both the terminal and feed operations.
The acquired terminal handles barges, rail and truck operations, and it has over 35 million gallons of bulk liquid storage capacity, consisting of over 45 tanks designed to meet the specialised storage, handling and transportation requirements of most types of liquid products.
This terminal is located within 600 miles of 50 major metropolitan areas containing 53% of US manufacturing and 54% of the US population.
The addition of Southside River-Rail to our portfolio brings Westway's total storage capacity to over 350 million gallons, Wayne Driggers, chief operating officer of Westway Group, says.