EX-99.1
3
a08-1135_1ex99d1.htm
EX-99.1
Exhibit 99.1
Contact:
Randall J. Larson, President
Frederick W. Boutin, Senior Vice President/Treasurer
303-626-8200
TRANSMONTAIGNE PARTNERS L.P. CLOSES TWO
ACQUISITIONS
Monday,
December 31, 2007
Immediate
Release
Denver,
Colorado-
TransMontaigne Partners L.P. ("Partnership")
(NYSE: TLP) today announced that it closed the acquisition of 21 refined
petroleum products terminaling facilities and associated real property,
improvements, easements, licenses and permits along the Colonial and Plantation
Pipelines ("Southeast Terminals") from TransMontaigne Inc. for an aggregate
purchase price of approximately $125 million.
The terminaling facilities have aggregate active storage capacity of
approximately 9 million barrels. The
Partnership will borrow approximately $125 million under its existing Senior
Secured Credit Facility to finance the acquisition.
In connection with the acquisition of the Southeast Terminals, the
Partnership entered into a terminaling services agreement with Morgan
Stanley Capital Group Inc. ("Morgan Stanley Capital Group"). The terminaling services agreement commences
on January 1, 2008 and has a seven-year term expiring on December 31,
2014, subject to a seven-year renewal option at the election of Morgan Stanley
Capital Group. Under this agreement, Morgan Stanley Capital Group has
agreed to throughput a volume of refined product that will result in minimum
throughput payments to the Partnership of approximately $31 million for the
contract year ending December 31, 2008, with stipulated annual increases
in throughput fees each contract year thereafter.
The
Partnership today also announced that it has closed on the acquisition from Rio
Vista Energy Partners L.P. ("Rio Vista") of its terminal facility in Matamoros,
Mexico, two pipelines from Brownsville, Texas to Matamoros, Mexico, with
associated rights of way and easements and 47 acres of land, together with a
permit to distribute liquefied petroleum gas ("LPG") to Mexico's state-owned
petroleum company. The total purchase
price for these LPG assets was approximately $11 million. These LPG assets complement the Partnership's
existing LPG storage facilities at Brownsville, Texas.
With the
acquisition of Rio Vista's LPG assets, the acquisition of the Southeast
Terminals, and the expected performance of the Partnership's existing
operations, the Partnership anticipates increasing its quarterly cash
distribution to unitholders by $0.05 to $0.08 per unit. The increase in
the Partnership's quarterly cash distribution to unitholders would occur
following the inclusion of the results from both acquisitions in its
consolidated results of operations for a full calendar quarter.
1670
Broadway ·
Suite 3100
·
Denver, CO
80202
·
303-626-8200 (phone)
·
303-626-8228 (fax)
Mailing
Address: P. O. Box 5660 ·
Denver, CO
80217-5660
www.transmontaignepartners.com
1
About
TransMontaigne Partners L.P.
TransMontaigne Partners L.P. is a terminaling
and transportation company based in Denver, Colorado with operations along the
Gulf Coast, in Brownsville, Texas, along the Mississippi and Ohio Rivers, and
in the Midwest. We provide integrated
terminaling, storage, transportation and related services for companies engaged
in the distribution and marketing of light refined petroleum products, heavy
refined petroleum products, crude oil, chemicals, fertilizers and other liquid
products. Light refined products include gasolines, diesel fuels, heating oil
and jet fuels; heavy refined products include residual fuel oils and
asphalt. We do not purchase or market
products that we handle or transport.
News and additional information about TransMontaigne Partners L.P.
is available on our website
:
www.transmontaignepartners.com
Forward-Looking Statements
This press release
includes statements that may constitute forward-looking statements made
pursuant to the safe harbor provision of the Private Securities Litigation
Reform Act of 1995. Although the company believes that the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, such statements are subject to risks and uncertainties that could
cause actual results to differ materially from those projected. Important
factors that could cause actual results to differ materially from the company's
expectations and may adversely affect its business and results of operations
are disclosed in
"Item
1A. Risk Factors" in the company's Annual Report on Form 10-K for the year
ended December 31, 2006, filed with the Securities and Exchange Commission
on March 16, 2007, and in "Risk Factors" in the company's Prospectus
Supplement dated May 17, 2007 to the Prospectus dated May 10, 2007,
as filed with the Securities and Exchange Commission on May 18, 2007
(Securities Act File No. 333-142108).
-END-
2

EX - 99 . 1 3 a08 - 1135 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 Contact : Randall J . Larson , President Frederick W . Boutin , Senior Vice President / Treasurer 303 - 626 - 8200 TRANSMONTAIGNE PARTNERS L . P . CLOSES TWO ACQUISITIONS Monday , December 31 , 2007 Immediate Release Denver , Colorado - TransMontaigne Partners L . P . ( " Partnership " ) ( NYSE : TLP ) today announced that it closed the acquisition of 21 refined petroleum products terminaling facilities and associated real property , improvements , easements , licenses and permits along the Colonial and Plantation Pipelines ( " Southeast Terminals " ) from TransMontaigne Inc . for an aggregate purchase price of approximately $ 125 million . The terminaling facilities have aggregate active storage capacity of approximately 9 million barrels . The Partnership will borrow approximately $ 125 million under its existing Senior Secured Credit Facility to finance the acquisition . In connection with the acquisition of the Southeast Terminals , the Partnership entered into a terminaling services agreement with Morgan Stanley Capital Group Inc . ( " Morgan Stanley Capital Group " ) . The terminaling services agreement commences on January 1 , 2008 and has a seven - year term expiring on December 31 , 2014 , subject to a seven - year renewal option at the election of Morgan Stanley Capital Group . Under this agreement , Morgan Stanley Capital Group has agreed to throughput a volume of refined product that will result in minimum throughput payments to the Partnership of approximately $ 31 million for the contract year ending December 31 , 2008 , with stipulated annual increases in throughput fees each contract year thereafter . The Partnership today also announced that it has closed on the acquisition from Rio Vista Energy Partners L . P . ( " Rio Vista " ) of its terminal facility in Matamoros , Mexico , two pipelines from Brownsville , Texas to Matamoros , Mexico , with associated rights of way and easements and 47 acres of land , together with a permit to distribute liquefied petroleum gas ( " LPG " ) to Mexico 's state - owned petroleum company . The total purchase price for these LPG assets was approximately $ 11 million . These LPG assets complement the Partnership 's existing LPG storage facilities at Brownsville , Texas . With the acquisition of Rio Vista 's LPG assets , the acquisition of the Southeast Terminals , and the expected performance of the Partnership ' s existing operations , the Partnership anticipates increasing its quarterly cash distribution to unitholders by $ 0.05 to $ 0.08 per unit . The increase in the Partnership 's quarterly cash distribution to unitholders would occur following the inclusion of the results from both acquisitions in its consolidated results of operations for a full calendar quarter . 1670 Broadway · Suite 3100 · Denver , CO 80202 · 303 - 626 - 8200 ( phone ) · 303 - 626 - 8228 ( fax ) Mailing Address : P. O. Box 5660 · Denver , CO 80217 - 5660 www.transmontaignepartners.com 1 About TransMontaigne Partners L . P . TransMontaigne Partners L . P . is a terminaling and transportation company based in Denver , Colorado with operations along the Gulf Coast , in Brownsville , Texas , along the Mississippi and Ohio Rivers , and in the Midwest . We provide integrated terminaling , storage , transportation and related services for companies engaged in the distribution and marketing of light refined petroleum products , heavy refined petroleum products , crude oil , chemicals , fertilizers and other liquid products . Light refined products include gasolines , diesel fuels , heating oil and jet fuels ; heavy refined products include residual fuel oils and asphalt . We do not purchase or market products that we handle or transport . News and additional information about TransMontaigne Partners L . P . is available on our website : www.transmontaignepartners.com Forward - Looking Statements This press release includes statements that may constitute forward - looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 . Although the company believes that the expectations reflected in such forward - looking statements are based on reasonable assumptions , such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected . Important factors that could cause actual results to differ materially from the company 's expectations and may adversely affect its business and results of operations are disclosed in " Item 1 A. Risk Factors " in the company 's Annual Report on Form 10-K for the year ended December 31 , 2006 , filed with the Securities and Exchange Commission on March 16 , 2007 , and in " Risk Factors " in the company 's Prospectus Supplement dated May 17 , 2007 to the Prospectus dated May 10 , 2007 , as filed with the Securities and Exchange Commission on May 18 , 2007 ( Securities Act File No . 333 - 142108 ) . - END - 2