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Gadot to acquire chemical terminal at Gent, Belgium

29/06/2010

Gadot Group has signed an agreement with ADPO for the acquisition of the chemical storage terminal in the port of Ghent in Belgium. All businesses and assets will be transferred, and the terminal will be fully integrated into the VLS-Group, a fully owned European subsidiary of Gadot.
 
It will extend the service portfolio of VLS-Group in Europe by tank storage and toll manufacturing. Furthermore it will significantly increase its capacities for warehousing and value added logistics activities.

Ms. Sandrine Montsma, Chief Executive Officer of VLS-Group commented: „The transaction is in line with VLS-Group’s growth strategy and will contribute to the development of all our business units for the benefit of our customers.”

The Ghent site is a unique chemical storage terminal located in the Port of Ghent and occupies some 250,000 m² of land. Through its ~ 100,000 m³ of storage capacity, the terminal offers a unique integrated service model which includes: liquid storage, warehousing, tolling, processing, blending and filling as well as other value-added services.

The formal transaction is expected to be fully implemented in the course of August 2010.

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