Martin Midstream Sells Its East Texas Pipeline for $17.5 Million
[Click image to enlarge]
Martin Midstream Partners has sold its East Texas Pipeline to an undisclosed buyer for approximately $17.5 million.
“The East Texas Pipeline sale is one more step along the partnership’s strategic path of selling non-core assets and using the proceeds to reduce leverage. In addition, this transaction is immediately accretive as the Pipeline has been idle since September 2018 producing a trailing twelve months net loss and negative EBITDA of approximately $1.6 million and $0.9 million, respectively,” said Ruben Martin, president and chief executive officer of Martin Midstream.
About Martin Midstream Partners
Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The partnership’s primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids transportation, distribution and marketing services.
To stop by Martin Midstream’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2019 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
