April 18, 2017 [OPIS] - PBF Logistics today purchased a refined products terminal in Toledo from Sunoco Logistics that should complement its refinery nearby.
The terminal sold for $10 million and represents only the second third-party acquisition that PBF Logistics has made this year. Like many refining subsidiaries, the company has been busier with organic projects or with “drop-downs” from assets owned by the parent firm.
The Toledo terminal has storage for over 110,000 barrels of chemicals, clean products and additives and is adjacent to PBF’s Toledo refinery.
PBF notes that together with other announced organic projects (e.g., a huge new tank at Chalmette, La.), the combined deals should generate $15 million in forecast EBITDA.
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