Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Martin Midstream Partners L.P. Announces Sale of Stockton California Sulfur Terminal By: Martin Midstream Partners L.P. via Business Wire October 10, 2022 at 09:28 AM EDT Martin Midstream Partners L.P. (“MMLP” or the “Partnership”) (NASDAQ: MMLP) announced the sale of its Stockton Sulfur Terminal (the “Stockton Terminal”) to Gulf Terminals LLC. The net proceeds of approximately $5.25 million will be used to reduce outstanding borrowings under the Partnership’s revolving credit facility. Bob Bondurant, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of MMLP stated, “Over the last several years, the Partnership has sought opportunities to strengthen our balance sheet and reduce outstanding debt to lower our leverage. As a result, we have successfully completed multiple non-core asset sales allowing us to focus on our refinery services business segments. And while the sulfur business remains a strategic piece of our operations, the Stockton Terminal was considered a non-core asset as it is geographically removed from our focus on the U.S. Gulf Coast area where our primary sulfur assets are located.” About Martin Midstream Partners Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. Additional information concerning Martin Midstream is available on its website at www.MMLP.com. MMLP-E About Gulf Terminals LLC Gulf Terminals LLC is a privately held company providing safe and reliable supply chain solutions across the United States. Rooted in the model of providing safe operational excellence, Gulf Terminals is excited to continue offering sulfur handling and forming solutions for both refineries and consumers. With over 100 years of combined leadership in sulfur handling, we believe the Stockton Terminal will be the next chapter of growth and success for Gulf Terminals. View source version on businesswire.com: https://www.businesswire.com/news/home/20221010005205/en/Contacts Martin Midstream Partners L.P. Sharon Taylor – Chief Financial Officer investor.relations@mmlp.com (877) 256-6644 Gulf Terminals LLC James Palmer – President jpalmer@gulfterminals.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Martin Midstream Partners L.P. Announces Sale of Stockton California Sulfur Terminal By: Martin Midstream Partners L.P. via Business Wire October 10, 2022 at 09:28 AM EDT Martin Midstream Partners L.P. (“MMLP” or the “Partnership”) (NASDAQ: MMLP) announced the sale of its Stockton Sulfur Terminal (the “Stockton Terminal”) to Gulf Terminals LLC. The net proceeds of approximately $5.25 million will be used to reduce outstanding borrowings under the Partnership’s revolving credit facility. Bob Bondurant, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of MMLP stated, “Over the last several years, the Partnership has sought opportunities to strengthen our balance sheet and reduce outstanding debt to lower our leverage. As a result, we have successfully completed multiple non-core asset sales allowing us to focus on our refinery services business segments. And while the sulfur business remains a strategic piece of our operations, the Stockton Terminal was considered a non-core asset as it is geographically removed from our focus on the U.S. Gulf Coast area where our primary sulfur assets are located.” About Martin Midstream Partners Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. Additional information concerning Martin Midstream is available on its website at www.MMLP.com. MMLP-E About Gulf Terminals LLC Gulf Terminals LLC is a privately held company providing safe and reliable supply chain solutions across the United States. Rooted in the model of providing safe operational excellence, Gulf Terminals is excited to continue offering sulfur handling and forming solutions for both refineries and consumers. With over 100 years of combined leadership in sulfur handling, we believe the Stockton Terminal will be the next chapter of growth and success for Gulf Terminals. View source version on businesswire.com: https://www.businesswire.com/news/home/20221010005205/en/Contacts Martin Midstream Partners L.P. Sharon Taylor – Chief Financial Officer investor.relations@mmlp.com (877) 256-6644 Gulf Terminals LLC James Palmer – President jpalmer@gulfterminals.com
Martin Midstream Partners L.P. (“MMLP” or the “Partnership”) (NASDAQ: MMLP) announced the sale of its Stockton Sulfur Terminal (the “Stockton Terminal”) to Gulf Terminals LLC. The net proceeds of approximately $5.25 million will be used to reduce outstanding borrowings under the Partnership’s revolving credit facility. Bob Bondurant, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of MMLP stated, “Over the last several years, the Partnership has sought opportunities to strengthen our balance sheet and reduce outstanding debt to lower our leverage. As a result, we have successfully completed multiple non-core asset sales allowing us to focus on our refinery services business segments. And while the sulfur business remains a strategic piece of our operations, the Stockton Terminal was considered a non-core asset as it is geographically removed from our focus on the U.S. Gulf Coast area where our primary sulfur assets are located.” About Martin Midstream Partners Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. Additional information concerning Martin Midstream is available on its website at www.MMLP.com. MMLP-E About Gulf Terminals LLC Gulf Terminals LLC is a privately held company providing safe and reliable supply chain solutions across the United States. Rooted in the model of providing safe operational excellence, Gulf Terminals is excited to continue offering sulfur handling and forming solutions for both refineries and consumers. With over 100 years of combined leadership in sulfur handling, we believe the Stockton Terminal will be the next chapter of growth and success for Gulf Terminals. View source version on businesswire.com: https://www.businesswire.com/news/home/20221010005205/en/
Martin Midstream Partners L.P. Sharon Taylor – Chief Financial Officer investor.relations@mmlp.com (877) 256-6644 Gulf Terminals LLC James Palmer – President jpalmer@gulfterminals.com