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Watco Transloading LLC announced yesterday it has acquired the assets of River Road Terminals LLC of Louisville, Ky., which handles dry bulk commodities.
In conjunction with the acquisition, Watco entered into a 10-year lease of the underlying 38 acres of real estate, with an option to take ownership at the end of the lease, Watco officials said in a press release.
The terminal is located at Mile Marker 601 on the Ohio River. Rail access is provided by Central Kentucky Lines operated by R.J. Corman Railroad Group, which interchanges with CSX in Louisville and Winchester, Ky., and Norfolk Southern Railway in Lexington, Ky.
Watco currently serves many of the terminal's current customers on its railroads, which makes the acquisition a good fit, Watco executives said.
"This adds a third terminal in the Louisville/Jeffersonville area for Watco and serves to diversify the commodities and industries we serve," said Will Patterson, Watco's senior vice president of marketing and sales.
River Road Terminals had been owned by Paul Buddeke for more than 40 years. The terminal "will be a great addition to the Watco network," Buddeke said.