03.09.15. US Oil, the distribution division of US Venture, Inc, has bought a refined products terminal in Indianapolis, Indiana, USA.
The new terminal adds 410,000 barrels of capacity and expands US Oil’s existing distribution network to 21 terminals in North America.
The company said the acquisition would strengthen its position with unbranded and independent marketers as well as branded dealers in the Midwest, more specifically those located in the North/Central Indiana corridor. It would also allow US Oil to benefit from more biofuel opportunities and additional capital investment projects.
US Oil owns and operates a number of terminals in Wisconsin, Michigan, Iowa, and Texas. The addition of the Indianapolis terminal expands its network east with supply logistics through the Chicago complex via Buckeye, Enterprise and Marathon pipelines.
“Our strategic plan supports acquisitions such as the Indianapolis terminal to continue growth of our distribution, wholesale, branded and logistics businesses,” said Mike Koel, vice president of business development. “We hope to expand the capabilities of this terminal on completion of planned capital investment projects, while maintaining the strong service levels established by its terminal associates.”