February 2, 2010 [Business Wire] - Blackwater Midstream Corp. announces that it has entered into a Letter of Intent to acquire a liquid terminal facility in Brunswick, Georgia for $1.8 million. The acquisition is expected to be completed within the first quarter of 2010.
The Brunswick site consists of 160,000 barrels of storage capacity on six acres of property that is leased from the Georgia Port Authority. The site is accessible for ocean vessels, inland barges, railcars, and tank trucks. There is space available within the existing facility to build an additional 150,000 barrels of capacity at the site. Mike Suder, Blackwater Midstream Corp.’s Chief Executive Officer stated, “The Brunswick facility acquisition is a key addition to our business. It is strategically located between the crowded Savannah and Jacksonville markets, and will serve our potential customers’ product distribution requirements as a full service terminal storage facility.”
