Wibax CEO Jonas Wiklund explains the company’s acquisition of Baltic Tank and looks to the future of the business.
Swedish chemical supplier and trader Wibax grabbed headlines recently when it bought Baltic Tank, a chemical terminals operator in neighbouring Finland.
Prior to the acquisition of Baltic Tank, Wibax already had nine terminals in Sweden and another in Finland, with a total storage capacity of 450,000 m3, and offices in Sweden, Norway and Finland. Its main storage products include tall oil, pitch, mixed fatty acids, and chemicals, of which the two major products are caustic soda and sulphuric acid. In recent years it has also developed the biofuels side of the business, demand for which is growing in Sweden, particularly for heating.
Buying Baltic Tank added a further eight terminals in Finland including in Rauma, which has a capacity of 73,000 m3, Hamina, which has a capacity of 60,000 m3, and Kotka, which has a capacity of 50,000 m3, and...