Ruben Martin, President and Chief Executive Officer of MMLP's General Partner said, "We are pleased to be announcing two separate drop downs today exemplifying the diverse nature of our Partnership. Our purchase of the Cross Packaging Assets creates another solid growth platform for MMLP from the fragmented packaging business. These assets provide further integration to MMLP's Cross lubricant facility from which we will work to lever into additional market share going forward. We expect distributable cash flow growth from our packaging assets going forward as we expect our volume and market share to increase over time."Additionally, we are pleased to acquire the remaining portion of the Redbird Gas Storage joint venture. The project is entering a period when multiple previously contracted storage assets are coming on line in less than a year. Our continued investment in Redbird Gas Storage reflects our view that Cardinal owns and is developing best-in-class, strategically-located natural gas storage assets. These assets represent continued focus on bringing high quality, fee-based cash flows to MMLP and its unitholders.
Martin Midstream Partners L.P. Announces Acquisition Of Redbird Class A Equity Interests & Cross Packaging Assets
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