The acquisition is part of Koole’s expansion strategy and is expected to strengthen Koole’s competitive position. Koole’s existing storage capacity of approximately 725,000 cubic meters will increase by 27% to in total roughly 1 million cubic meters. The largest Westway Europe terminal is located in Amsterdam and will add 120,000 cubic meters to Koole’s existing terminal and will further strengthen Koole’s market position in the Netherlands/ARA region. Furthermore, Koole gains access to other European markets by operating two terminals in the UK and one in Poland, regions which are outside Koole’s Dutch home market.
John Kraakman, CEO of Koole, highlights: “Westway Europe offers strong growth potential for Koole, both geographically and in terms of service offering. We will be able to expand to other European markets like the UK and Poland. In particular, the terminal in Gdynia will give us the opportunity to offer a better entry to Eastern Europe which we expect to be growth markets. Overall, the acquisition will allow Koole to further diversify our client and product portfolio and the four new terminals will benefit from our commercial and operational excellence.’’
All employees of Westway Europe will transfer to Koole effective as of 1 April 2014.