Greenergy, the UK’s leading supplier of petrol and diesel, has purchased assets at the former Petroplus facility in Teesside from the joint administrators of Petroplus Refining Teesside Ltd, PwC.
Located at Seal Sands, the terminal was previously operated by Petroplus as a diesel storage and supply location but ceased commercial operations shortly after the company went into administration earlier in the year. Greenergy has been supplying its customers in the region from the neighbouring Vopak terminal, where it has invested in fuel manufacturing, storage and distribution facilities.
Andrew Owens, Greenergy chief executive, said: “The North East is an important hub in our UK fuel infrastructure platform and an area where we have significant sales volume. We will continue to manufacture fuel and supply our customers from the Vopak facility. Once it has been developed, this new site will be integrated into our existing North East system to give additional product and manufacturing capability.
"This strategic infrastructure investment follows Greenergy’s recent acquisition of assets at the Coryton refinery in a joint venture with Vopak and Shell.”
The terminal will remain closed for commercial supply over the next few months while development plans for the site are drawn up in cooperation with the relevant authorities. The plans will include the construction of a new rail head, making Teesside the hub of Greenergy’s rail distribution network and allowing efficient movement of fuel between Teesside and its other UK locations by rail rather than by road or ship.
The 20 personnel currently working at the site will remain in employment and will assist in the development planning.
The acquisition follows investments by Greenergy in storage and distribution facilities at Coryton (2012), Cardiff (2010) Teesside (2009), Plymouth (2008) and West Thurrock on the Thames (2008).
Steven Pearson and Ian Green of PwC, joint administrators of Petroplus Refining Teesside Ltd since January 24, 2012, said they were pleased to have completed the sale to Greenergy of "substantially all of the company’s assets on July 25".
Pearson said: “This has been a very challenging administration due to the complex nature of the site and the number of stakeholders involved. We are pleased to have been able to secure a sale of the vast majority of the company’s assets to Greenergy, and in doing so preserving key infrastructure assets in the North East of England.
"All parties involved have worked extremely hard to achieve this outcome and I would personally like to thank the employees, advisors and relevant authorities who have gone the extra mile to help achieve this outcome.”