U.S. Watco transport company has reached a definitive agreement with Kinder Morgan Terminals (KMT) to purchase 31 Terminal operations in the U.S. that span from Stockton, California, to Brooklyn, New York.
Watco Terminal and Port Services will be operating the 31 locations including 14 traditional rail to truck transload and switching facilities, 13 operations on inland waterways servicing bulk and break-¬‐bulk customers to and from barge, truck, and rail, 3 sites providing deepwater stevedoring with material handling activities and 1inland river tank farm.
Consideration for the terminals is provided through an equity interest exchange with closing occurring in multiple phases beginning in the first quarter of 2015.
“This is an expansion of Watco services that will bring several great connections between terminals, ports,and railroads. We think this has strong growth opportunities for each of these locations, their customers, and the communities they serve,” Watco President Rick Baden said.
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