Oiltanking acquire Grindrod Tank Terminals

Oiltanking to acquire Grindrod Tank Terminals

4:37 AM, 4th March 2013
Oiltanking to acquire Grindrod Tank Terminals

CAPE TOWN, SOUTH AFRICA: Oiltanking Grindrod Calulo (Pty) Ltd, subsidiary of Oiltanking GmbH, has entered into an agreement to acquire the business of Grindrod Tank Terminals a division of Grindrod (South Africa) (Pty) Ltd. The transaction is subject to relevant regulatory approvals. This acquisition adds a liquid bulk terminal in Durban and one in Cape Town to the global network of Oiltanking. The business further consists of a specialized road tanker fleet.

Both terminals play a key role in the import and redistribution of molasses and vegetable oils. Besides these products, the company has secured licenses to store and handle high flash point products (eg vegetable oils, glycols, caustic soda and base oils). The acquisition is the first step of Oiltanking’s strategy to provide its know-how and expertise in liquid bulk logistics to the South African market where there is a great need for its services.

The acquisition gives Oiltanking Grindrod Calulo an immediate presence in two key ports, of which one is the busiest in Africa. Vegetable oil demand is projected to increase making it a key industry to focus on, besides the vast opportunities in the high flash point product segment. Both terminals have sufficient land and jetties available for further expansions.

© WOC News



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