October 08, 2008

Kinder Morgan Energy acquires steel company

Houston Business Journal reported that Kinder Morgan Energy Partners LP has agreed to buy the assets of Marine Terminals Inc for about USD 100 million.

The Houston pipeline master limited partnership said Arkansas-based Marine Terminals will continue to provide handling, processing, harboring and warehousing services to Charlotte, N.C.-based Nucor Corp.

Marine Terminals, which primarily handles and stores steel and alloys, has two facilities at Blytheville in Arkansas and individual terminals in Decatur in Alabama, Hertford in North Carolina and Berkley in South Carolina. The five facilities handled about 13.4 million tons of steel products in 2006.

Kinder Morgan is owned by Houston based Knight Inc formerly Kinder Morgan Inc a privately held company.