Martin Midstream Partners L.P. Provides Operational Update Following Hurricane Laura
August 28 2020 - 4:01PM
Martin Midstream Partners L.P. (Nasdaq: MMLP) (the “Partnership”)
today announced the status of its coastal Texas and Louisiana
terminals following Hurricane Laura. Upon initial inspection
of the properties there appears to be minimal damage to the
Partnership’s terminals and marine equipment. The process of
restarting our sites has begun and we expect to be fully
operational on Monday, August 31.
Prior to Hurricane Laura making landfall the Partnership enacted
its standard hurricane preparedness protocol to minimize
operational delays and damages to terminalling and marine assets
located around the Gulf Coast. Beginning on Monday, August
24, terminals located in the projected path of the hurricane were
secured and personnel given the opportunity to evacuate their
families to safety. In addition, marine equipment was moved
to safe haven areas and communications scheduled to monitor the
event status as Hurricane Laura made landfall along the Gulf
Coast.
“As Hurricane Laura approached the Gulf Coast our focus was on
the safety and health of our personnel, their families and those
impacted by the storm,” said Ruben S. Martin, President and Chief
Executive Officer of Martin Midstream GP LLC, the general partner
of MMLP. “We are extremely thankful for the dedicated work of our
employees tasked with securing our assets to limit damage across
our system. While we did sustain minimal damage at some of
our terminals, at this time we do not expect a material financial
impact from this event. Our thoughts are with the Gulf Coast
region and we will continue to support our personnel and their
communities as they recover from damages resulting from the
storm.”
About Martin Midstream Partners
L.P.
Martin Midstream Partners L.P. is a publicly traded limited
partnership with a diverse set of operations focused primarily in
the United States Gulf Coast region. The Partnership’s
primary business lines include: (1) terminalling, processing,
storage, and packaging services for petroleum products and
by-products; (2) land and marine transportation services for
petroleum products and by-products, chemicals, and specialty
products; (3) sulfur and sulfur-based products processing,
manufacturing, marketing and distribution; and (4) natural gas
liquids marketing, distribution and transportation services.
Forward Looking Statements
Statements about the Partnership’s outlook and all other
statements in this release other than historical facts are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements and all references to financial estimates rely on a
number of assumptions concerning future events and are subject to a
number of uncertainties, including (i) the current and potential
impacts of the COVID-19 pandemic generally, on an industry-specific
basis, and on the Partnership’s specific operations and business,
(ii) the effects of the continued volatility of commodity prices
and the related macroeconomic and political environment, and (iii)
other factors, many of which are outside its control, which could
cause actual results to differ materially from such statements.
While the Partnership believes that the assumptions concerning
future events are reasonable, it cautions that there are inherent
difficulties in anticipating or predicting certain important
factors. A discussion of these factors, including risks and
uncertainties, is set forth in the Partnership’s annual and
quarterly reports filed from time to time with the Securities
and Exchange Commission (the “SEC”). The Partnership disclaims
any intention or obligation to revise any forward-looking
statements, including financial estimates, whether as a result of
new information, future events, or otherwise except where required
to do so by law.
The information in the Partnership’s website is not, and shall
not be deemed to be, a part of this notice or incorporated in
filings the Partnership makes with the SEC.
Additional information concerning the Partnership is
available on the Partnership’s website
at www.MMLP.com or by
contacting:
Sharon Taylor – Head of Investor Relations(877)
256-6644
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