PBF Logistics LP (the partnership) has announced that its wholly-owned subsidiary has acquired the Toledo, Ohio, refined products terminal assets of Sunoco Logistics LP (Sunoco Logistics) for US$10 million in cash. The Toledo terminal is directly connected to and currently supplied by PBF Energy Inc.'s Toledo refinery.
PBF Logistics GP LLC Chief Executive Officer Tom Nimbley said, "We are pleased with our acquisition of the Toledo Terminal which is PBFX's second third-party acquisition and third transaction completed this year. The combined transactions represent a US$15 million increase to the partnership's forecasted annualised EBITDA. We welcome the employees of the terminal to the PBFX family and look forward to maximising the potential of our newest asset."
Located adjacent to PBF Energy's Toledo refinery, the Toledo Terminal is comprised of a 10-bay truck rack and over 110 000 bbls of chemicals, clean product and additive storage capacity.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/18042017/pbf-logistics-acquires-terminal/