Kinder Morgan buys Marine Terminals
Spokesperson says nothing
will change except the owners
By Eric Fleischauer
firstname.lastname@example.org · 340-2435
Kinder Morgan Energy Partners LP, owner of Kinder Morgan barge terminal on Red Hat Road, announced Friday it is purchasing another barge operation with a Decatur presence, Marine Terminals Inc.
Both facilities have large steel-handling operations, said Houston, Texas-based Kinder Morgan spokesperson Emily Thompson.
"Nothing's going to change there
except the owners," Thompson said. "The relationship with Nucor will continue."
She said the acquisition would not result in consolidation of the Decatur operations.
"Kinder Morgan often has multiple terminal facilities in one location or city, and we do not consolidate them because the facilities serve different purposes and customers," Thompson said. "In Decatur, our existing terminal is a third-party terminal and open to many different customers. The facility we acquired from Marine Terminals is strictly targeted to Nucor business."
Marine Terminals, on Iverson Boulevard, is a $16 million facility that came to Decatur in 2002. The city provided a tax-reduction incentive package worth about $680,000. Marine Terminal employs 105 at its local facility.
The Decatur Marine Terminals facility unloads scrap steel from barges, railroad cars and trucks, cuts it into pieces small enough for Nucor to handle, and sorts it for Nucor use.
The facility handles about 2 million tons of scrap per year.
In addition to scrap handling, it
provides port operation services, and scrap processing inventory management.
Kinder Morgan, Thompson said, handles steel coil, steel plate, pig iron, alloys, coke, cotton seed and other bulk materials. It employs 21 in Decatur.
"It's very similar to the facility we're purchasing," Thompson said.
Kinder Morgan said it purchased the assets of Marine Terminals for about $100 million.
Marine Terminals has a total of five facilities, with two facilities in Blytheville, Ark., and individual terminals in Decatur, Hertford, N.C., and Berkley, S.C., which in total handled approximately 13.4 million tons of steel products in 2006.
Following the acquisition, Kinder Morgan said, these terminals will continue to provide services to Nucor Corp. under long-term contracts.
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