Vopak acquires TMM interest in Mexican tank storage
Vopak and TMM see bright future for storage and transportation services in Mexico
22 December 1999:
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Koninklijke Vopak N.V. (Royal Vopak) and Transportación Maritima Mexicana (TMM) jointly announce that they have entered into an agreement whereby Royal Vopak has purchased TMM’s 51% equity participation in Van Ommeren-TMM Terminals, S.A. de C.V. (VOTMM), the storage company in Mexico previously owned by Royal Vopak and TMM. With the conclusion of this transaction Royal Vopak will own 100% of four terminals in Mexico with a current capacity of approximately 150,000 cubic meters, suitable for the storage of chemical products and vegetable oils. Royal Vopak’s purchase of TMM’s interest in VOTMM establishes management control and fully integrates these terminals into the Royal Vopak worldwide terminal network to better serve the international chemical industry.
Royal Vopak and TMM believe in the future growth of the Mexican economy and business of storage and transportation of chemical products and vegetable oils in Mexico. The terminals are located in four strategic areas:
Altamira, where the international chemical industry is heavily investing to supply North and South America. Capacity at this terminal is fully rented out to the chemical industry on a long term basis (industrial terminalling);
Coatzacoalcos, located near the heart of the petrochemical complex of Pemex, the Mexican state-owned oil company;
Manzanillo, well situated on Mexico’s west coast to supply the US, South America and Pacific trades; and
Veracruz, the key gateway to Mexico City and surrounding areas.
TMM and Royal Vopak intend to expand their long-standing relationship by jointly developing storage and transportation business opportunities in Mexico in the petroleum sector as well. They also plan to work together to continue providing logistical solutions for the industry in connection with bulk liquids storage and transportation in Mexico.
Profile of Royal Vopak
Royal Vopak offers logistics and distribution services to the chemical and oil industries and end-users of chemicals throughout the world. With its global logistics network of terminals, tankers and tank containers, a distribution network of warehouses, customers and end-users in North America and Europe, Royal Vopak is uniquely positioned to become the link between producer and end-user of chemicals and oil products.
Profile of TMM
Headquartered in Mexico City, TMM is Mexico’s largest multimodal transportation company. Through its branch offices and network of subsidiary companies, TMM provides a dynamic combination of ocean and land transportation services within Mexico. TMM also has a controlling interest in Transportación Ferroviaria Mexicana (TFM), which operates Mexico’s Northeast railway and carries over 40% of the country’s rail cargo.
For further information, please contact:
At Vopak
Corporate Communication & Investor Relations
Jet van Beusekom-Eikenaar
Telephone : +31 10 464 2616
E-mail : [email protected]
United States of America
Michael Chieco
Telephone : +1 203 973 0090
E-mail : [email protected]
Latin America
Pieter Bakker
Telephone : +1 305 448 2466
E-mail : [email protected]
At TMM
Jacinto Marina, CFO
Telephone : +52 5 629 8866
Pedro Mejorada, Investor Relations
Telephone : +52 5 629 8796
E-mail: : [email protected]
At the Financial Relations Board
Tad Gage (generalist investors and media)
Telephone : +1 312 640 6745
E-mail : [email protected])
Kristine Walczak (analysts)
Telephone : +1 312 640 9723
E-mail : [email protected])
