TransMontaigne Inc. Announces New Gasoline and Distillates Agreement with Valero Supply and Marketing Company
March 03 2006 - 5:53PM
Business Wire
TransMontaigne Inc. (TMG) (NYSE:TMG) today announced that it has
entered into a new seven-year Terminaling Services Agreement with
Valero Supply and Marketing Company, a subsidiary of Valero Energy
Corporation (NYSE:VLO), regarding approximately 1 million barrels
of gasoline and distillate storage capacity throughout its River
Facilities. TMG will provide services to Valero and its customers,
including the receipt, storage, throughput, additive and other
injection services, blending and delivery of gasoline and
distillates. The Valero agreement will become effective April 1,
2006, at the Cape Girardeau, Missouri; Evansville, Indiana;
Greenville, Mississippi; and Henderson, Owensboro and Paducah,
Kentucky facilities. Simultaneous with the effective date of the
agreement, TMG will transfer its gasoline and distillate
inventories at these locations to Valero. TMG's current gasoline
and distillate customers at these locations will continue to be
supplied by TMG. At its River Facilities, TMG will continue to
provide terminaling services for products other than gasoline and
distillates, such as Av-Gas, biodiesel, fertilizer, asphalt,
various chemicals and solvents, to 20 other customers.
TransMontaigne Inc. is a refined petroleum products marketing and
distribution company based in Denver, Colorado with operations in
the United States, primarily in the Gulf Coast, Midwest and East
Coast regions. The Company's principal activities consist of (i)
terminal, pipeline, and tug and barge operations, (ii) marketing
and distribution, (iii) supply chain management services and (iv)
managing the activities of TransMontaigne Partners L.P. (NYSE:TLP).
The Company's customers include refiners, wholesalers,
distributors, marketers, and industrial and commercial end-users of
refined petroleum products. Corporate news and additional
information about TransMontaigne Inc. is available on the Company's
web site: www.transmontaigne.com. Valero Energy Corporation is a
Fortune 500 company based in San Antonio, with approximately 22,000
employees and annual revenues of more than $80 billion. The company
owns and operates 18 refineries throughout the United States,
Canada and the Caribbean with a combined throughput capacity of
approximately 3.3 million barrels per day, making it the largest
refiner in North America. Valero is also one of the nation's
largest retail operators with more than 5,000 retail and branded
wholesale outlets in the United States, Canada and the Caribbean
under various brand names including Valero, Diamond Shamrock,
Shamrock, Ultramar, and Beacon. Please visit www.valero.com for
more information. FORWARD-LOOKING STATEMENTS This press release
includes statements that may constitute forward-looking statements
made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. This information may
involve risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements. Although the
Company believes that the expectations reflected in such
forward-looking statements are based on reasonable assumptions,
such statements are subject to risks and uncertainties that could
cause actual results to differ materially from those projected.
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