Oiltanking GmbH announces that its subsidiary, Oiltanking Grindrod Calulo (Pty) Ltd., in which it holds a 46% interest, has entered into an agreement to acquire the business of Grindrod Tank Terminals a division of Grindrod (South Africa) (Pty) Ltd. The transaction is subject to relevant regulatory approvals. This acquisition adds a liquid bulk terminal in Durban and one in Cape Town to the global network of Oiltanking. The business further consists of a specialized road tanker fleet.

Both terminals play a key role in the import and redistribution of molasses and vegetable oils. Besides these products, the company has secured licenses to store and handle high flash point products (e.g. vegetable oils, glycols, caustic soda and base oils).

The acquisition is the first step of Oiltanking’s strategy to provide its know-how and expertise in liquid bulk logistics to the South African market where there is a great need for its services. It gives Oiltanking Grindrod Calulo an immediate presence in two key ports, of which one is the busiest in Africa. Vegetable oil demand is projected to increase making it a key industry to focus on, besides the vast opportunities in the high flash point product segment. Both terminals have sufficient land and jetties available for further expansions.

Oiltanking Grindrod Calulo is also the preferred bidder for the bulk liquid terminal in the Port of Coega where it expects to sign a definite agreement with the South African Port Authorities in the near future.

About Oiltanking Grindrod Calulo
Oiltanking Grindrod Calulo is an independent bulk liquid storage provider in South Africa combining the world class expertise of Oiltanking GmbH in the field of bulk liquids handling with the local expertise and the full Black Economic Empowerment credentials of Grindrod South Africa (Pty) Ltd and Calulo Terminals (Pty) Ltd. Through direct holdings via Calulo and an indirect holding via Grindrod South Africa, the joint venture is a fully empowered entity with a level 2 empowerment classification.

About Oiltanking
Oiltanking is a subsidiary of Marquard & Bahls AG, Germany, a leading petroleum company, privately owned. Oiltanking is the second largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 73 terminals in 22 countries within Europe, North and South America, Middle East, India as well as Asia. Oiltanking has an overall storage capacity of 20.2 million cbm.

JSE listed Grindrod has global representation and more than 100 years’ experience in South Africa’s freight movement, providing integrated shipping and logistics solutions to clients. Grindrod’s operations are focused on transportation by sea, road and rail, storage and handling of dry and liquid bulk commodities, containers and automobiles. Grindrod’s operations also extend to include commodity trading and financial services.

About Calulo
Calulo is a South African black owned and controlled investment company focusing on oil and chemical sectors. Calulo has significant holdings in companies throughout the value chain and controlling interests in companies which focus on providing comprehensive logistics solutions to the oil, gas and chemical sectors.