Oiltanking Acquires Terminals in Kotka and Hamina, Finland
Oiltanking acquires 100% of the shares in Vopak Chemicals Logistics Finland Oy, which consists of two terminals for the storage and handling of bulk chemicals and petroleum products. This transaction more than triples Oiltanking’s capacity in Finland. The two terminals with a combined capacity of 175,400 cbm are located in Kotka and Hamina, along the southeast coast of Finland. Oiltanking already owns and operates a terminal in this area under the name Oiltanking Sonmarin Oy. After the acquisition, the terminals of both companies are consolidated into a single company, Oiltanking Finland Oy.
Finland is one of the main transit hubs for the export and import of chemical and petroleum products in relation to Russia and the other FSU countries. This transaction further strengthens Oiltanking’s ability to serve this market segment. Following this acquisition, the total storage capacity of Oiltanking Finland terminals increases to 257,100 cbm, distributed to 75 tanks in various sizes ranging from 500 to 10,000 cbm.