Thursday, October 4, 2012

Calumet Specialty Products Partners, L.P. Completes Acquisition of Montana Refining Company, Inc.

INDIANAPOLISOct. 1, 2012 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. ("Calumet") (NASDAQ: CLMT) announced today that it completed the previously announced acquisition of Montana Refining Company, Inc.  ("Montana Refining") on October 1, 2012 for $120 million plus an amount for estimated closing date working capital, for aggregate consideration paid of approximately $201 million, subject to customary purchase price adjustments (the "Montana Refining Acquisition").
Montana Refining owns and operates a refinery in Great Falls, Montana with crude oil throughput capacity of approximately 9,800 barrels per day (the "Refinery").  The Refinery produces gasoline, middle distillates and asphalt which Montana Refining markets primarily into local markets in WashingtonMontanaIdaho and Alberta, Canada. 
"We are very excited to add Montana Refining's people and assets to Calumet.  We look forward to working with the Montana Refining employees on a successful integration.  Starting with our acquisition of the Superior refinery in September 2011, we have spent approximately $1 billion on complementary acquisitions over the past year. We continue to actively look for additional growth opportunities, which will complement our current assets and diversify our geographic presence," said Bill Grube, Calumet's Chief Executive Officer. 

The Montana Refining Acquisition was funded primarily with cash on hand, with the balance through borrowings under Calumet's senior secured revolving credit facility.

About Calumet 
Calumet is a master limited partnership and is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil and other feedstocks into customized lubricating oils, solvents, waxes and asphalt used in consumer, industrial, and automotive products. Calumet also produces fuel products including gasoline, diesel and jet fuel. Calumet is headquartered in Indianapolis, Indiana and has ten plants located in northwest Louisiana, northwest Wisconsin, northern Montana, western Pennsylvania, southeastern Texas and eastern Missouri.
SOURCE Calumet Specialty Products Partners, L.P.

Monday, October 1, 2012

NAPA QIC Awards Deadline Extended

The deadline for nominating Quality in Construction Awards to NAPA has been extended by one week to Friday, Oct. 12.  NAPA's Quality in Construction Awards gives national recognition for the superior asphalt paving projects around the nation.

Open to NAPA members, potential members, paving contractors, and owning agencies (DOTs, cities, counties, or municipalities), these awards are given for airports, roads, highways, parking lots, and innovative projects.

The nomination process is now online. Don't delay in submitting your projects! Companies can nominate more than one project - all projects meeting the threshold will receive recognition at NAPA's Annual Meeting in Scottsdale, Ariz., in February 2013. NAPA also highlights all award winners in Asphalt Pavement magazine and on our Web site Additionally, NAPA conducts a national media relations campaign and provides press releases to help companies promote their high-quality work.

Begin the nomination process today. Go to to begin. Contact Ester Magorka, Director of Awards & NAPA PAC Programs, with any questions.