Maxum Petroleum acquires Petroleum Products

Maxum Petroleum, Inc. has announced the acquisition of Petroleum Products, Inc. and two affiliated companies, Petroleum Transport, Inc., and Petroleum Fueling, Inc. Headquartered in Charleston, West Virginia, Petroleum Products was founded in 1938 and is the leading supplier of fuels, lubricants, and related value-added services to industrial and coal mining operations in the Central Appalachia region with sales of over $320 million. Petroleum Products operates nine warehouse and bulk plant facilities, and services customers in West Virginia, eastern Kentucky, south central Ohio, and southwestern Virginia.

Maxum Petroleum (previously named Global Petroleum, Inc.) was formed in 2006 by its parent, SPI Petroleum LLC, to continue the consolidation of the fragmented commercial fuel and lubricant distribution industry, as begun by SPI Petroleum in 2004. Maxum Petroleum is the leading independent petroleum marketer in the country, providing a comprehensive fuel and lubricant offering to commercial and industrial industries nationally. Petroleum Products will operate as a wholly-owned subsidiary of Maxum Petroleum, and will continue to market and operate under the Petroleum Products brands. The entire management team of Petroleum Products, including its President and previous owner, Pat Graney, will continue in their current roles.

Information from: www.oilonline.com