Vertex Energy Adds New Terminal Location In Texas
Vertex Energy, Inc. (OTCBB:VTNR), a leader in the aggregation, recycling and processing of distressed hydrocarbon streams, has signed a one year tank lease for additional storage at a terminal location in Seabrook, Texas, which will be used as a rail logistical hub for the Company’s Black Oil Division. The lease term begins on January 1, 2011 and has provisions for renewals following the initial term.
Benjamin P. Cowart, CEO of Vertex, stated, “This new terminal location, near Galveston Bay, will allow us to further expand the capacity and reach of our Black Oil Division. By adding this hub to our existing operations in Baytown, Texas, we are well positioned to source increasing amounts of used oil. This expansion also reflects our commitment to continue to provide our customers with quality feedstock that will help keep their operations running smoothly. Additionally, the increased capacity from our new terminal will assist us in handling our growing internal feedstock needs that have resulted from our recent increases in production at our Thermal-Chemical Extraction Process facility.”
Vertex Energy’s Black Oil Division operates as an outsourced feedstock manager for large consumers of used motor oil (or “black oil”) by finding the appropriate quantities of black oil at the best prices on a reliable basis and managing the logistics of having the necessary quality and quantity of black oil delivered to the customers’ facilities in a timely manner.
About Vertex Energy, Inc.Vertex Energy, Inc. (OTCBB: VTNR) is a leader in the aggregation, recycling and processing of distressed hydrocarbon streams thereby reducing the United States’ reliance on foreign crude oil. Vertex’s focus, as a participant in the alternative energy and environmentally friendly investment sectors, is on creating increased value in the products it manages and produces through a variety of strategies and technologies that facilitate the re-refining of used oil and off specification commercial chemical products into higher value commodities. By creating higher value products from distressed hydrocarbon streams, the Company is positioned to produce both financial and environmental benefits. Vertex is based in Houston, Texas with offices in Georgia and California. More information on the Company can be found at www.vertexenergy.com. This press release may contain forward-looking statements, including information about management’s view of Vertex’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Vertex, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Vertex files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Vertex’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex.
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