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Newest truck is ready to go to work!

No On I-732 video

https://youtu.be/8bpsqA3wEGg

Congratulations to our friends across town... Associated Petroleum Products acquired by Miami company [Business Examiner Media Group] Jun 23, 2016 - 05:34 PM World Fuel Services Corporation has acquired Tacoma’s Associated Petroleum Products, Inc., according to an announcement today by the Miami-based firm. More specifically, a wholly-owned subsidiary of World Fuel has signed a definitive agreement to take on APP, as well as Virginia Beach-based PAPCO. That company provides fuel-related services throughout the Mid-Atlantic region, much like APP does in the Pacific Northwest. The aggregate purchase price for both companies, according to World Fuel, is approximately $230 million; that money will be funded through the company’s existing credit facilities. “The acquisitions of PAPCO and APP significantly expand our geographic reach and supply and distribution capabilities, while further strengthening our commercial and industrial distribution platform in the United States,” said Michael J. Kasbar, chairman and CEO of World Fuel. “We look forward to welcoming the PAPCO and APP teams to the World Fuel Services organization.” “We are pleased to have these two industry-leading companies, established management teams and enthusiastic employees, join World Fuel. This transaction expands our extensive supply relationships and product offerings as we continue to grow our diversified business,” added Michael Crosby, executive vice president, global land for World Fuel. Both transactions are subject to customary closing conditions and are expected to be completed in the next 45 days.