Watco to purchase 31 Kinder Morgan terminals

Written by Jenifer Nunez, assistant editor

Watco Companies reached a definitive agreement with Kinder Morgan Terminals to purchase 31 terminal operations in the U.S. that span from Stockton, Calif., to Brooklyn, N.Y.

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, three sites providing deepwater stevedoring with material handling activities and one inland river tank farm.

“The Watco team is excited to expand our outstanding relationship with KMT and to positions operations in a manner that best benefits our mutual customers,” said Watco President Rick Baden. “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.”

In other news, Watco has named Stefan Loeb executive vice president and chief marketing officer. In this role, he will lead and be responsible for organic growth initiatives of Watco Transportation Services’ North American railroads and contract switching locations, as well as Watco Terminal Port Services’ facilities.

Additionally, Watco named Will Patterson and Derek Penner senior vice presidents of marketing and sales for Watco Terminal and Port Services. Patterson will lead the efforts to create continued organic growth revenue across a terminal network that will include the 31 facilities recently acquired, as well as the Greensport Industrial Park in Texas. Penner will be responsible for managing the Watco Terminal Port Services organic marketing effort for the Energy By Rail Terminal Network and the existing terminals.

 

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