SAINT JOHN, New Brunswick,
September 9, 2016 /PRNewswire/ --
Canadian Company Announces Successful Acquisition of
Refinery in Ireland
Irving Oil announced today the successful close of its purchase
and sale agreement with Houston-based energy, manufacturing and
logistics company, Phillips 66 (NYSE: PSX), to acquire the
Whitegate refinery located near Cork,
Ireland. The agreement was announced by Irving Oil on
August 3 with an expectation that the
transaction would close by the end of the third quarter once all
conditions of the sale were met.
With the transaction finalized, Irving Oil has assumed full
ownership of the refinery and will continue full operation of the
facility, including maintaining its existing workforce.
"Whitegate is a great facility, and is a good fit for our
company," says Arthur Irving,
Chairman of Irving Oil. "We are happy to welcome the Whitegate team
to Irving Oil and we are looking forward to working together."
As the country's sole refinery the Irving Oil Whitegate Refinery
will continue to provide a secure and reliable supply to its
existing customer base.
"This is a historic day for our company. We're thrilled to
welcome new members to the Irving Oil team, serve new customers and
grow our business across the Atlantic," says Ian Whitcomb, President of Irving Oil. "The
Irving Oil Whitegate Refinery has a long-established positive work
environment and strong safety culture, and we will continue to
uphold these values while offering our customers in Ireland an exceptional service experience.
"We will work hard to ensure that existing relationships with
customers and the community remain strong, and we look forward to
establishing new relationships," says Sarah
Irving, Executive Vice President of Irving Oil. "It is an
exciting time for our company and we welcome the team at Whitegate
to Irving Oil."
"We are excited to add another refinery to our company. As with
our Saint John refinery, safety is
always our number one priority," says Mark
Sherman, Vice President and Chief Operating Officer of
Irving Oil. "With this at the forefront, this refinery will
continue as a reliable supplier, a sound operator and a secure
employer."
About Irving Oil
Irving Oil was founded in 1924 and is a privately-owned regional
refining and marketing company with a history of long-term
partnerships and relationships. In addition to its refinery in
Whitegate, Ireland, Irving Oil
operates Canada's largest refinery
in Saint John, NB, which is
located 65 miles north of the US border and has reached production
rates in excess of 320,000 barrels per day. With over 900 fueling
locations, operations from a network of distribution terminals, and
a delivery fleet of tractor trailers, Irving Oil serves wholesale,
commercial and retail customers in Atlantic Canada, Quebec, and New England.
Media Contact:
Sam Robinson
Public Affairs, Irving Oil
samantha.robinson@irvingoil.com
+1-(506)650-4947