NEW ORLEANS, /PRNewswire-FirstCall/ -- Westway Group, Inc. (OTC Bulletin Board: WTWG) wholly-owned subsidiary Westway Terminal Cincinnati LLC has 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 Mid-West US.
The terminal facility that was acquired by Westway in this transaction is located in Cincinnati, Ohio, 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 barges, rail and truck operations, and it 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% of U.S. manufacturing and 54% of the U.S. population.
Westway Group, Inc. http://www.westway.com
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