|
Bradford, PA, November 5, 2008: American Refining Group, Inc. acquired Clinton Petroleum Company, Inc., a crude oil brokerage and trucking firm located in Randolph, OH, effective September 30, 2008.
ARG will continue to purchase and haul crude oil from over 100 producer accounts in Ohio formerly served by Clinton Petroleum. To maintain continuity and a high level of service to the producers, daily operations will remain at the former Clinton Petroleum site in Randolph, OH. The venture adds nine (9) crude oil trucks and (8) experienced employees to ARG’s already established Ohio based operations.
Clinton Petroleum was founded by Glenna Green Moyers and her late husband Albert Green in 1972. Ms. Moyers has operated the business since 1982.
This transaction will bolster ARG’s presence and enhances our relationship with crude oil producers in Ohio, according to Harvey L. Golubock, President and COO of American Refining Group, Inc.
The oil collected by the company’s growing fleet is delivered to ARG’s terminal located in Mineral City, OH, approximately 12 miles south of Canton and then loaded into railcars and transported to ARG’s refinery in Bradford, PA. ARG also purchases crude oil from two other independent oil brokers, Devco Oil based in Cambridge, OH and Jeddy Oil Company based in Marietta, OH.
“ARG is excited and well equipped to serve the former customers of Clinton Petroleum and we look forward to strengthen relationships with these producers,” stated William F. Murray, Vice President of Crude Acquisition.
In 1997, American Refining Group, Inc., a privately held entity, purchased the Kendall® / Amalie® refinery located in Bradford, PA, from Witco Corporation.
American Refining Group’s Bradford Pennsylvania Refinery is the only refinery dedicated solely to processing 100% Pennsylvania Grade Crude Oil. In addition to gasoline and fuel oil, the refinery produces a complete line of distillate and naphtha solvents under the Kensol® brand, Kendex® brand lubricant baseoils, waxes, and Penn Grade resins, PennzSuppress® brand dust control agent and a variety of other petroleum specialties. ARG also produces a complete line of Brad Penn® Lubricants for consumer, commercial and industrial applications and is designated as the Master Distributor for Gulf® branded lubricants in an eleven-state region in the northeast. The Company is also a major producer of private label lubricants which are marketed under nationally recognized consumer and commercial brand names and is the largest producer of zinc-free diesel locomotive engine oils east of the Mississippi.
|