This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Westway Group, Inc. Announces Expansions At Three Terminal Locations

NEW ORLEANS, Sept. 28, 2010 (GLOBE NEWSWIRE) -- Westway Group, Inc. (Nasdaq:WWAY) ("Westway" or the "Company") today announced that its subsidiary, Westway Terminal Company LLC, is in the process of expanding the capacity of three terminal sites:

  • A long-term agreement has been signed with a major oil company to lease five new 630,000 gallon tanks that are currently under construction at our Houston 2 terminal. These tanks are expected to be on line and in service starting in November 2010. The expansion will increase the total capacity of our Houston 2 terminal by approximately 3.2 million gallons. Once this expansion is completed, Westway's two terminals in Houston will have a total capacity of approximately 92 million gallons, representing the Company's largest investment in its global network of terminal facilities.
  • A long-term agreement has been signed with a current customer to construct a 200,000 gallon specialty product tank at our Sioux City, Iowa terminal. Completion of this project is expected by December 2010.
  • Nine stainless steel tanks totaling approximately 4.2 million gallons of capacity in the aggregate are currently under construction at our Amsterdam, Netherlands terminal with completion expected in the first quarter of 2011. After completion, this facility will have a total capacity of approximately 31 million gallons.

Commenting on these near-term projects, James B. Jenkins, Chief Executive Officer, stated that, "Westway continues to make significant investments in the expansion of our terminal operations, which--once these expansions are completed--will afford the company a global footprint of approximately 362 million gallons. Of equal importance is the fact that we are ahead of the schedule envisioned at the time of our business combination in 2009 of reaching 370 million gallons by the end of 2011. We are proud of the many accomplishments of our Westway team of professionals, their dedication to the profitable growth of our company and the fostering of a global Westway brand with a mantra of delivering the highest quality of customer service everywhere in our system."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $124.43 -1.54%
FB $82.16 -1.20%
GOOG $548.00 -0.73%
TSLA $188.77 -0.94%
YHOO $44.44 -1.10%


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs