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Article: NewGen Technologies Announces Agreement to Purchase Three Fuel Terminals.
- Article from:
- Business Wire
- Article date:
- October 3, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHARLOTTE, N.C. -- NewGen Technologies, Inc. (OTCBB:NWGN) today announced that it has signed a definitive contract for the purchase of three fuel terminals in the Southeast United States from an undisclosed seller. The terminals, with a total storage capacity of over 10 million gallons, and an annual throughput capacity of more than 350 million gallons, will be used for the distribution and storage of alternative fuels, including biodiesel and ethanol blends, as well as traditional hydrocarbons. The three terminals are strategically located near existing fuel pipelines with railcar access. NewGen expects the closing of this purchase, subject to financing and customary ...
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