Trammo reports changes
Trammo Inc., New York City, on Nov. 8, announced certain changes in the structure of its business.
It has ceased proprietary trading of natural gas liquid (NGL) futures and will now focus on maximizing the value of its two propane terminals which will remain in service to their customers.
In addition, it will no longer trade petrochemicals, with the withdrawal from that business expected to be concluded by the end of 2016.
Trammo said it will continue to perform all of its obligations and to provide full support to each of these businesses as they wind down.
Trammo will now focus on trading its core products to achieve a high level of profitability. According to Edward Weiner, CFO and COO of Trammo, “these changes are part of a long term vision for the company. Today, Trammo remains financially strong with a solid equity base and adequate capital to support its core business activities. Going forward, Trammo will continue to be a leading market participant in the core products that it trades. We remain committed to giving to all of our business counterparties the high level of service that they have come to expect from Trammo.”
Founded in 1965, Trammo is a global commodities merchandising and distribution company engaged in the purchase, sale, distribution and transportation of a wide variety of products, including sulfur, sulfuric acid, ammonia, fertilizers, petroleum coke, coal and rice.