Contanda and BW Terminals, which have been under common ownership since Contanda was acquired by institutional investors, have announced plans to merge.
The combined company will have 18 sites with more than ten million barrels of storage capacity. Michael Suder, a terminal industry veteran and the current CEO of BW Terminals, will assume the role of Contanda CEO and serve as the CEO of the combined Contanda-BW Terminals organisation post-merger. His appointment follows G.R (Jerry) Cardillo's decision to pursue other opportunities.
In a statement, the board of directors says: 'Mike has a proven record of accomplishment at BW Terminals and have overseen tremendous growth at each of the companies he has led throughout his almost 30-year career in the terminals industry. We believe he is the ideal leader for the Contanda-BW Terminals organisation.
'We have tremendous respect for what Contanda has achieved under Jerry's leadership and wish him well in his future endeavours.'
Suder adds: 'Both Contanda and BW Terminals have a reputation for exception service enabled by dedicated employees. By bringing Contanda and BW Terminals together, we are entering a new chapter of growth and success.'
The integration is expected to be complete in the first half of 2020.