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Fri 3 Apr 2009, 14:34 GMT

WFS acquires Henty Oil Group


US firm expands its presence in UK marine fuel and land distribution market.

World Fuel Services Corporation has announced that it has completed the acquisition of the Henty Oil Group of Companies, a leading independent provider of marine and land based fuels in the United Kingdom.

Henty, based in Liverpool, with 2008 marine volume of over 250,000 metric tons, services the Irish Sea ports of Liverpool, Holyhead and Heysham. Henty's land segment, with 2008 volume of approximately 10 million gallons, provides fuel and gas oil to a broad range of customers throughout the United Kingdom.

"This acquisition further enhances our strong global position in the marine fuel business and also expands our presence in the UK land fuel distribution market," said Michael J. Kasbar, president and chief operating officer of World Fuel Services Corporation.

"We are very pleased to become part of a company with the global strength and expertise of World Fuel. This transaction further enhances our growth opportunities in the Northern European marketplace," said Paul Henty, president of Henty Oil Limited.

This transaction is expected to be $0.03 to $0.05 accretive to earnings in the first twelve months.

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