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Irving Oil Terminals Inc. Announces Agreement to Purchase Petroleum Terminals and Pipeline
Portsmouth NH – Irving Oil Terminals Inc. announced today that it has signed a
purchase and sale agreement with ExxonMobil to acquire two petroleum terminals
located in South Portland and Bangor, Maine, as well as a 124-mile petroleum product
pipeline connecting the two terminals. This transaction is subject to regulatory review,
with closing targeted for mid-December, 2009.
“ExxonMobil has managed and maintained these facilities in a first-class manner and we
look forward to the opportunity to build upon the long history of exceptional customer
service at these locations,” said Gary Bischof, General Manager of Irving Oil Terminals
Inc. “These terminals serve an important role in Maine’s economy and our agreement
today further underscores our long-term commitment to our customers, and to the Maine
communities in which they work and live.”
Irving Oil Terminals Inc. plans to continue full operation of the newly-acquired terminal
facilities and the petroleum product pipeline. “This acquisition enhances our ability to
remain a secure and reliable energy supplier in Maine and New England generally,” said
Bob Blanchard, Director of Sales for Irving Oil Terminals Inc., “We intend to make this
transition as seamless as possible for our customers and the communities in which
these facilities operate.”
About Irving Oil Terminals Inc.:
Irving Oil Terminals Inc., a Fort Reliance company, is a commercial marketer and
distributor of petroleum products throughout New England. This business is affiliated
with Irving Oil Refining, which operates Canada's largest refinery in Saint John, N.B.
Irving Oil Terminals Inc. is headquartered in Portsmouth, New Hampshire.
Media contact:
Patricia Brennan
Irving Oil Terminals Inc.
(800) 626-2299 Ext. 3149
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