December 2, 2009 [Irving Oil Terminals Inc.] - Irving Oil Terminals Inc. announced that it has signed a purchase and sale agreement with ExxonMobil to acquire two petroleum terminals located in South Portland and Bangor, Maine, as well as a 124-mile petroleum product pipeline connecting the two terminals.
This transaction is subject to regulatory review, with closing targeted for mid-December 2009.
“ExxonMobil has managed and maintained these facilities in a first-class manner and we look forward to the opportunity to build upon the long history of exceptional customer service at these locations,” said Gary Bischof, General Manager of Irving Oil Terminals Inc. “These terminals serve an important role in Maine’s economy and our agreement today further underscores our long-term commitment to our customers, and to the Maine communities in which they work and live.”
Irving Oil Terminals Inc. plans to continue full operation of the newly-acquired terminal facilities and the petroleum product pipeline. “This acquisition enhances our ability to remain a secure and reliable energy supplier in Maine and New England generally,” said Bob Blanchard, Director of Sales for Irving Oil Terminals Inc., “We intend to make this transition as seamless as possible for our customers and the communities in which these facilities operate.”
