Martin Midstream Partners L.P. Reports Service Disruption and Structure Damage at Neches Terminal Location
May 13 2019 - 5:00PM
Martin Midstream Partners L.P. (Nasdaq:MMLP) (“the Partnership”)
announced that an incident occurred at its Neches Terminal in
Beaumont, Texas in the early morning on Friday, May 10, 2019
causing structural damage to the terminal’s mobile ship-loader and
crane. There were no injuries to plant personnel or marine
crews related to this event. Until the damage is repaired,
the terminal will be unable to load prilled sulfur onto oceangoing
vessels.
The incident occurred during severe weather passing through the
area. No other structures were impacted and all other
terminalling operations are fully functional. At this time,
the Partnership is not able to estimate the time necessary to
repair the damage or the cash flow impact, but believes that it
carries adequate insurance to protect against the losses
incurred.
About Martin Midstream Partners (NASDAQ:MMLP)
The Partnership 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 segments
include: (1) natural gas services, including liquids transportation
and distribution services and natural gas storage; (2)
terminalling, storage and packaging services for petroleum products
and by-products; (3) sulfur and sulfur-based products processing,
manufacturing, marketing and distribution; and (4) land and marine
transportation services for petroleum products and by-products.
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 and other factors,
many of which are outside the Partnership's 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 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.
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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