SemMaterials, L.P. announced today that it acquired a private owned asphalt storage facility located in St. Louis, MO, from Broadway Petroleum Company, LLC. Terms for the purchase were not disclosed. The 15-acre site includes asphalt storage with a total shell capacity of 505,435 barrels and a deep water barge dock with 700 feet of river frontage. All but 55,000 barrels of the storage is under lease until the first quarter of 2008.
Frank Panzer, SemMaterials president and chief operating officer, said, "The SemMaterials Broadway facility represents a strategic location for SemMaterials to stage asphalt supplies for distribution directly to our Midwest asphalt facilities. The St. Louis site provides us excellent rail, barge and interstate access to move asphalt into areas of high demand."
The Broadway facility has 13 asphalt tanks ranging in size from 15,000 to 84,000 barrels capacity; a 40x200 foot dock barge with dual mooring dolphins on the Mississippi River; a two-bay truck loading facility, Union Pacific Railroad service and a fenced private spur; and office, terminal and shop buildings.