25/02/2010 - 15:36

Coogee, Gull in Kwinana terminal talks

25/02/2010 - 15:36

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Coogee Chemicals is poised to expand its footprint in Kwinana as it negotiates the purchase of a neighbouring terminal owned by Gull Petroleum.

Coogee Chemicals is poised to expand its footprint in Kwinana as it negotiates the purchase of a neighbouring terminal owned by Gull Petroleum.

Coogee chairman Gordon Martin confirmed to WA Business News today that the diversified chemical manufacturer and terminal operator was not far from finalising a deal with Gull.

He said Coogee was not interested in Gull's retail business. Mr Martin would not provide further details of the pending transaction.

Gull chief executive Wayne Ferrell could not be reached for comment at time of publishing.

Merging both terminals under one owner is bound to create synergies, with Coogee's Kwinana terminal handling petroleum products among other dangerous goods.

The Coogee Kwinana operation is the largest multi-purpose bulk liquid dangerous goods terminal in WA with 68,000 cubic metres capacity that also handles hydrocarbon solvents, alcohols and caustic corrosive products, according to the company website.

Gull's terminal has a total storage capacity of 58 million litres, with the fuel then distributed to metropolitan and regional customers across the state.

Coogee is cashed up from the $170 million sale of subsidiary Coogee Resources to Thai company PTT in late 2008.

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