Aegean Marine Petroleum Network Inc. Completes Acquisition of Verbeke Bunkering N.V.
Aegean Marine Petroleum Network Inc. announced that it has completed its previously announced acquisition of Verbeke Bunkering N.V., a leading physical supplier of marine fuel in the Antwerp-Rotterdam-Amsterdam (ARA) region, the world's second largest bunkering market. E. Nikolas Tavlarios, President of Aegean Marine, commented, "We are pleased to complete the accretive acquisition of Verbeke Bunkering and solidify our presence in the vast ARA region. With this strategic transaction, the largest in our Company's history, we have more than tripled Aegean Marine's global reach since going public in December 2006. Management's successful track record in consolidating the fragmented marine fuel supply industry in a disciplined manner positions Aegean Marine well to significantly strengthen its global brand recognition and increase future sales volumes."
Aegean Marine Petroleum Network Inc. is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea. The Company procures product from various sources (such as refineries, oil producers, and traders) and resells it to a diverse group of customers across all major commercial shipping sectors and leading cruise lines. Currently, Aegean has a global presence in more than 15 markets, including Vancouver, Montreal, Mexico, Jamaica, Trinidad and Tobago, West Africa, Gibraltar, U.K., Northern Europe, Piraeus, Patras, the United Arab Emirates, Singapore, Morocco and the Antwerp-Rotterdam-Amsterdam (ARA) region.