Waltham, MA (PRWEB) August 28, 2006
Global Companies LLC, one of the Northeast’s oldest and most respected independent distributors of gasoline, diesel fuel, home heating oil and petroleum products, is expanding operations into Pennsylvania. Global has agreed to buy a 170,000-barrel refined petroleum products terminal in Macungie, PA, from Pipeline Petroleum, Incorporated.
The terminal has capacity for 7 million gallons of distillates, gasoline and diesel fuel and is located near major transportation corridors and urban areas. Global will distribute three grades of gasoline, diesel fuel, home heating oil and specialty fuel additives from the terminal.
Industry veteran Frank Taylor will head up the sales effort for Global in Macungie.
“We are looking forward to bringing the Global brand of outstanding customer service to retailers in Pennsylvania,” says Joe DeStefano, Global’s marketing manager. “We will continue our commitment to quality product, competitive pricing and personal service in this market.”
Global Companies LLC is a subsidiary of Global Partners LP, a master limited partnership based in Waltham, Massachusetts that is one of New England’s leading distributors of petroleum products, including home heating oil, diesel fuel, gasoline and fuel additives. Global Partners LP trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, please call 800-685-7222, or visit the company’s web site at http://www.globalp.com.
Safe Harbor Statement
This news release contains certain “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified as any statements that do not relate strictly to historical or current facts and can generally be identified by the use of forward-looking terminology including “will,” “may,” “believe,” “expect,” “anticipate,” “estimate,” “continue” or other similar words. Such statements may discuss business prospects, new developments and future expectations or contain projections of results of operations, financial condition and Global Partners LP’s ability to make distributions to unitholders. These statements are not guarantees of performance. Although Global Partners LP believes these forward-looking statements are based on reasonable assumptions, statements made regarding future results are subject to a number of assumptions, uncertainties and risks, many of which are beyond the control of Global Partners LP, which may cause actual results to be materially different from the forward-looking statements contained in this news release. For specific risks and uncertainties that could cause actual results to differ materially from forward-looking statements, please refer to Global Partners LP’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2006, and its Annual Report on Form 10-K for the year ended December 31, 2005. All forward-looking statements included in this news release and all subsequent written or oral forward-looking statements attributable to Global Partners LP or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements speak only as of the date made, and Global Partners LP undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.