MECHELEN, Belgium--(BUSINESS WIRE)--LBC Tank Terminals announced today that it has agreed to divest its interest in their Shanghai Terminal. The joint venture partner Cosco Shipping will acquire all LBC shares with an effective date of 12th June 2019. The sale is subject to government approval.
This divestment will allow LBC to focus on the extensive expansion projects currently underway in Europe and the USA as well as several other potential projects in the LBC expansion portfolio.
LBC wishes to thank the local Shanghai team and wish them all the best for the future.
LBC Tank Terminals
LBC Tank Terminals is a top-tier global independent operator of bulk liquid storage facilities for petrochemicals, petroleum products and base oil products. LBC owns and operates a global network of terminals at key locations in the United States and Europe, while offering loading / unloading services for all modes of transportation. Underlying the entire ethos of the company is our focus on corporate and social governance in which we strive to have a positive effect upon society and ensure that there is no such thing as a dangerous product, at least not when under our care. More information is available at www.lbctt.com