Trafigura buys Ormet bulk terminal
Jun 03, 2011 | 12:51 PM
| Anne Riley
NEW YORK Ormet Corp. has found a buyer for its Louisiana marine terminal in Trafigura Beheer BV after a more than four-year search.
Impala Warehousing (US) LLC, a wholly owned subsidiary of the Swiss trading house, announced Friday that it has acquired the idled terminal in Burnside, La., for $28 million. The deal closed late Thursday after months of discussions, AMM understands.
"We have been considering and studying this for a while," Simon Collins, a director of Trafigura, said in a statement.
Trafigura plans to invest some $100 million to reopen and expand the bulk terminal, which will primarily be used to ship coal, it said.....
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