Harvestone Group, a global commodity merchant focussed on biofuels, has bought Gateway Terminals in Sauget, Illinois, US.
Gateway Terminals, on the banks of the Mississippi River, was built in 2008 and has a capacity of 400,000 bbl. It is a multimodal terminal with truck, rail, and barge loading and unloading capabilities.
Kevin Stewart, chief marketing officer of Harvestone, says that the acquisition will strengthen the company’s position in key supply chains as it seeks to expand its marketing and trading business in the US and globally.
‘With over 1 billion gallons now flowing through the Harvestone platform, we have multiple sources of product to connect through Gateway Terminals, creating enhanced economics for both our producer partners and end user customers. Since inception, we have been expanding across the US and Canada, and this strategic facility cements our place in some key supply chains with tremendous optionality,’ he adds.