Duisburg-based TanQuid has acquired tank farm Essen II, located in the neighbouring Ruhr city, from Unabhängige Tanklagergesellschaft mbH (UTG). Jens Moir, CEO of TanQuid, commented: “Tank farm Essen II ideally complements our terminal portfolio and fits perfectly with our strategy of healthy and sustained growth.”
UTG, which is headquartered in the north German seaport of Bremerhaven, retains ownership of the land in Essen, providing TanQuid a long-term lease. Essen II is used exclusively for strategic storage by Erdölbevorratungsverband (EBV) and stock rotation partners. Storage capacity is around 143,000 cbm. The parties agreed not to disclose the purchase price.
Earlier this year became one of the first companies in the European tank storage sector to achieve ISO 14001 certification for its environmental management. The certification procedure was conducted by DNV GL.