Oiltanking GmbH will triple their storage capacity in Finland through the acquisition of 100% of the shares of Vopak Chemicals Logistics Finland Oy, including two terminals for the storage and handling of bulk chemicals and petroleum products.
The two terminals with a combined capacity of 175,000 cbm are located in the South East coast of Finland. They will augment the company´s current storage facility in the region, Oiltanking Sonmarin Oy (81,700 cbm), in a new combined enterprise under the name of Oiltanking Finland Oy.
According to Oiltanking, Finland is a key transit hub for import and export of chemical and petroleum products serving Russia and the former Soviet Union countries.
“We see healthy volumes going through these ports and expect those volumes to even grow in the future. By combining the facilities, we believe we can optimize the infrastructure and therefore serve our customers even better going forward,” said Boris Oudenbroek, Director of Oiltanking Europe and Americas, to PetrolPlaza.
After the transaction Oiltanking Finland´s terminal capacity will increase to 257,100 cbm with a total of 75 tanks.
“This acquisition fits in our strategy of controlled growth, where we look for opportunities to strengthen our global terminal portfolio by building or buying strategically located infrastructure,” he stated.
Oiltanking has doubled their storage capacity in 10 years and is now the world´s second largest independent tank storage provider for petroleum products, chemicals and gases. They own 73 terminals in 22 countries across the globe with an overall storage capacity of 19.4 million cbm.
