[ID] => 10912
[post_author] => 6150
[post_date] => 2019-04-17 08:39:41
[post_date_gmt] => 2019-04-17 07:39:41
[post_content] => Inter Terminals Ltd’s acquisition of NuStar Europe at the end of 2018 established it as the largest independent storage operator in the UK (HCB December 2018, page 39). At a stroke, Inter Terminals became the fifth largest independent storage operator in Europe and its overall storage capacity increased by approximately 33 per cent. A joint Integration Project Team and transition plan is in place, meaning the process of bringing these two complementary businesses together is under way.
The former NuStar Europe business consists of seven terminals, totalling 9.1m bbl (1.05m m3
) of storage capacity. One terminal is located in Amsterdam, Netherlands, with the remaining facilities located in the UK at Grays, Runcorn, Eastham, Grangemouth, Clydebank and Belfast. Serving a diversified customer base, all terminals are strategically located along key waterways with proximity to large metropolitan areas; an important competitive advantage.
Inter Terminals sees strong integration potential with its existing terminals and for the former NuStar Europe employees, resulting in enhanced product storage and custom blending solutions for customers. In addition to materially increasing overall storage capacity, the acquisition provides an attractive entry into the Port of Amsterdam – the world's largest gasoline blending hub. With a capacity of 613,000 m3
, the state-of-the-art terminal plays a key role in the port, hosting approximately 10 per cent of the port’s independent storage capacity.
MEET THE TEAM
Inter Terminals’ COO, Paul Oseland, is co-leading the Integration Project Team with David McLoughlin, former vice-president and general manager at NuStar Terminals. Following the acquisition, McLoughlin was appointed director and general manager of Inter Terminals UK and the Netherlands. He brings more than 23 years of wide-ranging experience to his new role, having started his storage industry career in marketing, before moving into operations and then into management.
McLoughlin is delighted to be part of this exciting new venture and believes Inter Terminals and NuStar Europe are a great fit. McLoughlin says: “As well as having a complementary footprint in terms of terminals and locations, our people share the same core values and business ethos, with a strong emphasis on health and safety, the environment, regulatory compliance and operational excellence. I believe these synergies provide the perfect basis for us to build a bigger, even better business together.”
Since the acquisition it has been business as usual for the terminals in the newly expanded storage network, giving all parties time to observe, review and plan the integration process. Establishing a joint integration team and plan has been a critical part of the process, as Oseland explains: “The composition of the Integration Project Team reflects the collaborative approach to merging these two great businesses into a combined storage network that promotes shared learning and knowledge transfer.”
The key integration areas, which include HR, IT, engineering and operations, are equally represented in the team by relevant personnel from Inter Terminals and the former NuStar business. The wide-ranging integration plan will include a review of all aspects of the combined business, including systems and customer management. Supporting the transition process and establishing measures to track and report on progress will be a primary objective for the team. Also, as with any business change, they will be responsible for communicating with, assessing and managing any concerns of stakeholders.
TOPPING UP TANKS
With this strategic acquisition, Inter Terminals says it has acquired a quality asset base of 378 tanks that is modern, well maintained and highly automated. “The NuStar Europe business in the UK complements our facilities on England’s east coast, while the Amsterdam terminal significantly expands our footprint in north-west Europe,” says Oseland. Having a terminal in Amsterdam will also create storage demand and opportunities for low sulphur fuel oil and blending of bunker fuels and diesel ahead of the forthcoming IMO 2020 regulations.
Combining strategic locations with specialist product handling capabilities, Inter Terminals’ facilities handle a significant percentage of the UK’s imported fuel requirements and are designed to enable frictionless flow of gasoline, diesel and other fuels to retail outlets. The newly acquired Grays terminal on the River Thames strengthens Inter Terminals’ position in this market. A key regional supply point, Grays handled approximately 2.5m tonnes of refined products during 2018 and provides cost-effective access to London's fuel distribution network. A terminal optimisation project, nearing completion, will enable the receipt and dispatch of increased volumes of gasoline and diesel at significantly faster rates.
The acquisition of NuStar Europe by Inter Terminals creates one of the most comprehensive multi-product storage terminal networks in Europe, with 23 terminals in six countries and a combined capacity of 5.8m m3
. Achieving smooth integration is now the next important step for a successfully combined business that promises benefits for employees and customers alike.
[post_title] => Inter Terminals: Come together
[post_status] => publish
[comment_status] => open
[ping_status] => open
[post_name] => inter-terminals-come-together
[post_modified] => 2019-04-17 07:44:30
[post_modified_gmt] => 2019-04-17 06:44:30
[post_parent] => 0
[guid] => https://www.hcblive.com/?p=10912
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