Greenergy acquires CAN-OP fuel business in Ontario
Greenergy Fuels Canada is to purchase 100% of the shares of Canadian Operators Petroleum (CAN-OP), a fuel marketer and terminal operator in Thunder Bay, Ontario. The acquisition gives Greenergy an additional import and distribution location in the growing Ontario fuels market. CAN-OP’s operations include a gasoline and distillate wholesale business and a wholly-owned petroleum storage and supply facility, Wascan Terminals. Its terminal infrastructure is rail-fed, allowing for efficient integration into existing Greenergy supply chains. Greenergy plans to upgrade and expand the CAN-OP terminal in the next 18 months, to make fuel supply more reliable and competitive in Thunder Bay and the surrounding region.
Commenting on the news, Mike Healey, Director, Greenergy Fuels Canada, says: ‘Our new presence in northern Ontario continues our Canadian expansion and establishes Greenergy in a region poised for economic growth and at the centre of a key petroleum supply/trading intersection between western Canada, the US Midwest and southern Ontario.’