Norway's Stolt-Neilsen buys bulk liquids firm Marstel

Norway's Stolt-Neilsen buys bulk liquids firm Marstel Terminals

By Peter Kerr

June 16 (BusinessDesk) - Norway’s Stolt-Neilsen Ltd. has acquired Marstel Terminals, a trans-Tasman operator of bulk liquid storage and packaging.

Marstel started in New Zealand in 1987 and operates five local and four Australian terminals, managing approximately 150,000 cubic metres of storage capacity and a throughput of about 400,000 tonnes a year, the company said in a statement.

It stores and packages hazardous and non-hazardous products such as petrochemicals, petroleum fuels, biofuels, lubricants, bitumen and vegetable oils, with Bluff, Mt Maunganui and Auckland locations, as well as two Melbourne, a northern Tasmania and central Queensland locations.

Marstel founders, Graham and Anne Catley, are to retain a 30% ownership and continue as executive managers, while Australian private equity firm Propel Investments has sold its 45% stake in the company.

Stolt-Neilsen's Stolthaven Terminals operates a global network of eight bulk liquid storage facilities in key markets with a combined total storage capacity of 2.9 million cubic metres. A ninth terminal is being constructed in Singapore.

The sale price wasn’t undisclosed. Stolt-Neilsen said it intends growing the business by maximising existing terminals' opportunities and developing new sites in New Zealand and Australia.

(BusinessDesk)

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