Greenergy acquires Canadian Operators Petroleum
Greenergy Fuels Canada Inc. is expanding its footprint in the growing Ontario fuels market with the acquisition of Canadian Operators Petroleum (CAN-OP), a fuel marketer and terminal operator in Thunder Bay, Ontario.
CAN-OP operates gasoline and distillate wholesale business and a petroleum storage and supply facility, Wascan Terminals Inc.
“Our new presence in Northern Ontario continues our Canadian expansion and establishes Greenergy in a region poised for economic growth and at the center of a key petroleum supply/trading intersection between Western Canada, the U.S. Midwest and Southern Ontario," said Mike Healey, Director, Greenergy Fuels Canada Inc.
In the next 18 months, Greenenergy will invest in the expansion and upgrade of the the CAN-OP terminal with the vision of making fuel supply more reliable and competitive in Thunder Bay and the surrounding region.
CAN-OP’s staff and leadership team will be part of Greenergy as CAN-OP’s General Manager, Bob MacMinn, taking on additional responsibilities within Greenergy.
The acquisition transaction is set to close by the end of October 2017.
