Earlier today, MRMC purchased 100% of the membership interests in
Through this acquisition, MMLP has acquired an additional 13 marine and one inland terminalling facility located across the
In similar fashion to the Partnership's existing marine terminal operations, MMLP has entered into a long-term throughput agreement with MRMC for use of the Assets. As part of the throughput agreement, MRMC will continue to own all inventory and working capital elements of the fuel and lubricant distribution business which is consistent with current and past practice. In addition, MRMC has agreed to guarantee a minimum throughput volume to the Partnership in exchange for use of the Assets, resulting in additional stable, fee-based cash flow to MMLP.
Additional information concerning
Joe McCreeryVice President - Finance & Head of Investor Relations, Martin Midstream Partners L.P.Phone: (903) 988-6425 email@example.com
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