HES International B.V has signed an agreement with Valt B.V. (“Valt”), a 50% / 50% joint venture between Vitol and Sargeant, to acquire Valt Asphalt Terminal B.V, a bitumen terminal located in Botlek Rotterdam. The terminal delivers storage, handling and blending services to the European and African bitumen market.
“This acquisition is in line with HES International’s Liquid Bulk strategy to expand our storage footprint in Europe”, according to Paul van Poecke, Head of Liquid Bulk Terminals of HES International. “The existing and potential future storage capacity can play an important role in meeting the increasing local and regional bitumen trade flows, in particular with IMO regulations, focussed on reducing sulphur levels in marine bunker fuels, kicking in by 2020. Besides the terminal is located close by our HES Botlek Tank Terminal (“HBTT”) and adjacent to European Bulk Services (“EBS”), both 100% subsidiaries of HES, providing significant levels of synergy”.
Dan Sargeant, CEO of Valt said: “HES International is a reputable market player and we are confident that the terminal’s customers will benefit from their professionalism and the planned enhancements to the terminal. At Valt we are focusing on optimising the logistical services we provide to our clients worldwide.”
During the course of 2018 HES International plans to upgrade the terminal by investing in tanks and ancillary infrastructure.