U.S. Oil Widens Distribution and Supply Footprint with Noble Terminals Acquisition
Appleton, WI – U.S. Oil, the petroleum and renewable energy distribution division of U.S. Venture, Inc. announced today that it has acquired six terminals from Houston-based Noble Petro, Inc. The new terminals add 1.75 million barrels of additional capacity and expand U.S. Oil’s existing distribution network from 13 to 19 terminals in North America.
The acquisition includes three terminals located in high growth and demand areas of Texas, in the cities of Houston, Fort Worth, and Bryan. Additional sites include Green Bay, Wisconsin; Bettendorf, Iowa; and Rogers City, Michigan. The strategic locations provide access to the Magellan, Explorer and Chicago area pipelines and offer marine access to the Great Lakes and Mississippi River.
“With this acquisition we will work with customers from the Gulf Coast to the Midwest, servicing them through distribution, wholesale, branded and logistics businesses,” said Mike Koel, Vice President of Business Development. “We look forward to continuing the relationships in place today, while growing our customer base.”
“This is a great growth opportunity for U.S. Oil. We are building out our terminal network supply system and connectivity to reach new markets,” said John Schmidt, CEO of U.S. Venture. “This is U.S. Oil’s fifth acquisition in three years and we anticipate more growth in the years to come.”
Noble Petro, a subsidiary of Singapore listed Noble Group, is a commercial supplier and wholesale distributor of refined petroleum products predominately serving the Midwest, Texas and Southeast regions in the United States.
About U.S. Venture
For over 60 years, U.S. Venture, Inc. has been recognized as an innovative leader in the distribution of petroleum and renewable energy products, lubricants, and tires and parts for the automotive aftermarket. Guided by its company vision, “To be the very best value-adding distributor of products that vehicles consume in North America,” they deliver unconventional, creative solutions that give their customers a competitive edge. Headquartered in Appleton, Wisconsin, the company’s business divisions are U.S. Oil, U.S. AutoForce and U.S. Lubricants. U.S. Venture has a workforce of more than 1,100 associates across the United States.
For information on business opportunities contact: Mike Koel at: 920-830-6261 or MKoel@usoil.com
About U.S. Oil
U.S. Oil is recognized as an innovative leader in the distribution of petroleum and renewable energy products. Its newest business brand, GAIN Clean Fuel, is a leading CNG provider to fleets along major shipping corridors nationwide. U.S. Oil is a division of U.S. Venture, Inc.
About Noble Group
Noble Group (SGX: N21) manages a portfolio of global supply chains covering a range of industrial and energy products, as well as having a 49% interest in Noble Agri, its agricultural partnership with COFCO. Operating across a multitude of locations and customers, Noble facilitates the marketing, processing, financing and transportation of essential raw materials. Sourcing bulk commodities from low cost regions such as South America, South Africa, Australia and Indonesia, the Group supplies high growth demand markets, particularly in Asia and the Middle East. In order to ensure the integrity of its supply chains, the Group has a portfolio of interests in strategic logistics and processing assets which form an integral part of facilitating its key trade flows. We are ranked number 76 in the 2014 Fortune Global 500. For more information please visit www.thisisnoble.com.
U.S. Venture, Inc.
Leonard & Finco Public Relations
(920) 965-7750; ext., 168
Ms. Rebecca Fung
Noble Group Limited
Tel: +852 2861 4625
Mr. Martin Debelle
Tel: +61 2 9290 3033
Ms. Candice Adam
Tel: +44 20 7397 2915