01-10-2012
Calumet Specialty Products Partners completes acquisition of Montana Refining Company
Calumet Specialty Products Partners, L.P. announced today that it completed the previously announced acquisition of Montana Refining Company, Inc. on October 1, 2012 for $120 million plus an amount for estimated closing date working capital, for aggregate consideration paid of approximately $201 million, subject to customary purchase price adjustments.
Montana Refining owns and operates a refinery in Great Falls, Montana with crude oil throughput capacity of approximately 9,800 barrels per day. The Refinery produces gasoline, middle distillates and asphalt which Montana Refining markets primarily into local markets in Washington, Montana, Idaho and Alberta, Canada.
"We are very excited to add Montana Refining's people and assets to Calumet. We look forward to working with the Montana Refining employees on a successful integration. Starting with our acquisition of the Superior refinery in September 2011, we have spent approximately $1 billion on complementary acquisitions over the past year. We continue to actively look for additional growth opportunities, which will complement our current assets and diversify our geographic presence," said Bill Grube, Calumet's Chief Executive Officer.
The Montana Refining Acquisition was funded primarily with cash on hand, with the balance through borrowings under Calumet's senior secured revolving credit facility.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Sasol provides state of the art catalysts to INERATEC for the production of sustainable e-fuels
The catalysts will be used, among others, in the first large-scale industrial Power-to-Liquid (PtL) plant that INERATEC is currently building in Frankfurt, Germany, which ...
24-04-2024
-
Baker Hughes to supply 17 centrifugal compressors to Saudi Master Gas System project
Baker Hughes, an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment ...
23-04-2024
-
SABIC Fujian Petrochemicals select Phenol yechnology from KBR
KBR announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China. Under the terms of the ...
22-04-2024
-
Lummus Expands R&D capabilities to enhance innovation and water and wastewater technologies
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) ...
17-04-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024