New Orleans-Westway Group Inc. said Oct. 16 that its wholly-owned subsidiary, Westway Terminal Cincinnati LLC, had completed the acquisition of the storage assets, contractual relationships, and property of Southside River-Rail Terminal Inc., located in Cincinnati, Ohio. The purchase price for this acquisition was approximately $20 million in cash. Southside River-Rail Terminal, Inc. has been one of the largest independent, full-service bulk liquid handling facilities in the Midwest. The facility does a significant amount of UAN business, according to a company source. The terminal is immediately west of downtown Cincinnati just off U.S. Route 50, between the Ohio River and CSX rail lines, with immediate access to I-75, I-71, and I-74. This facility is immediately adjacent to an existing Westway-owned liquid animal feed supplement operation, which will provide some synergies for both the terminal and feed operations. The acquired terminal handles barge, rail, and truck operations, and has over 35 million gallons of bulk liquid storage capacity, consisting of over 45 tanks designed to meet the specialized storage, handling, and transportation requirements of most types of liquid products. This terminal is located within 600 miles of 50 major metropolitan areas containing 53 percent of U.S. manufacturing and 54 percent of the U.S. population. “We are excited about the addition of Southside River-Rail to our portfolio, which brings Westway’s total storage capacity to over 350 million gallons,” said Wayne Driggers, Westway chief operating officer. “This acquisition continues Westway’s strategy of increasing its footprint in the U.S., and it further strengthens our overall global network to support the growing needs of our customer base. Additionally, we are well on track with our plans for expanding capacity over the next three year period.”
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