NEW ORLEANS, Sept. 10 /CNW/ -- Westway Terminal Company LLC, a
wholly-owned subsidiary of Westway Group, Inc. (OTC Bulletin Board: WTWG),
broke ground on September 8, 2009 for Phase Two of its previously announced
expansion program begun at its Port Allen, Louisiana facility.
Westway Terminal Company LLC has secured an additional long-term contract
for storage at the Port Allen facility, which allows the company to now launch
Phase Two of its overall plan to expand service to the Gulf South market.
Phase Two will provide an additional 1.47 million gallons of capacity along
with additional dock line and infrastructure, including truck loading and
rail. When added to the company's previous announcement of a $3.8 million
expansion project at this site on August 28, 2009, Westway's total investment
of approximately $6 million on both announced phases will increase the
capacity of the Port Allen facility by 34%.
Scott MacKenzie, President of Westway Terminal Company LLC stated, "our
Port Allen facility has ample room for additional growth in the near future,
and we have already commenced planning for a Phase Three of this facility."
Wayne Driggers, Chief Operating Officer of Westway Group, Inc. added that
"this is yet another step in the overall expansion and strengthening of
Westway's global network to support the growth of our customer base by
providing solutions to their bulk storage requirements."
About Westway Group, Inc.
Westway Group, Inc. ("Westway") is a leading provider of bulk liquid
storage and related value-added services and a leading manufacturer and
distributor of liquid animal feed supplements. Westway operates an extensive
global network of 53 operating facilities, 23 of which provide approximately
300 million gallons of total bulk liquid storage capacity and 30 facilities
producing 1.7 million tons of liquid feed supplements annually. The bulk
liquid storage business is a global business with infrastructure that includes
a network of 23 terminals offering storage to manufacturers and consumers of
agricultural and industrial liquids, located at key port and terminal
locations throughout North America, Western Europe and Asia. The liquid feed
supplements business produces liquid animal feed supplements that are sold
directly to end users and feed manufacturers, primarily supplying the beef and
dairy livestock industries. By using formulation processes tailored
specifically to the needs of its customers, Westway blends liquid agriculture
by-products and essential nutrients to form feed rations that help to maximize
the genetic potential of livestock.
As a result of the relationship between them, the bulk liquid storage and
liquid feed supplements businesses benefit from synergies including
co-location of facilities, enhanced raw material supply logistics for liquid
feed supplements and increased operational efficiency resulting from
cross-business knowledge exchange.
This press release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended.
We have based these forward-looking statements on our current
expectations and projections about future events. These forward-looking
statements are subject to known and unknown risks, uncertainties, and
assumptions about us that may cause our actual results, levels of activity,
performance or achievements to be materially different from any future
results, levels of activity, performance, or achievements expressed or implied
by such forward-looking statements.
In some cases, you can identify forward-looking statements by terminology
such as "may," "should," "could," "would," "expect," "plan," "anticipate,"
"believe," "estimate," "continue," or the negative of such terms or other
similar expressions. Factors that might cause or contribute to such a
discrepancy include, but are not limited to, those described in our other SEC
For example, our statements about our expansion plans, their cost, and
their effect on our terminal capabilities, and storage capacity are
forward-looking statements. Important factors that may cause our actual
results to differ include unanticipated delays in construction and increased
costs due to weather, disputes with contractors, or opposition by
For further information:
For further information: Thomas A. Masilla, Jr., Chief Financial Officer
of Westway Group, Inc., +1-504-525-9741 Web Site: http://www.westway.com