Expansion of bunkering business: Mabanaft to acquire Bominflot, creating one of the world's five largest bunkering groups.

30.09.2011 - Hamburg:

Mabanaft GmbH & Co. KG and Bominflot Bunkergesellschaft für Mineralöle mbH & Co. KG are combining their bunkering businesses, which in the future will operate as part of the Mabanaft organization. On September 28, 2011 the two companies announced the signing of an acquisition agreement, which is subject to approval by antitrust regulators. The parties have agreed not to disclose the pricing of the transaction.

The combination of Bominflot and Matrix Marine, Mabanaft's subsidiary in the bunkering business, will enable both companies to leverage their respective strengths in sustainable fashion over the long term to secure further growth.

Under the agreement, all bunkering operations of Bominflot and Matrix Marine will be combined into the Bominflot Group, which will operate under the Mabanaft umbrella. The companies will continue to operate under their existing names which are well known in the market.

Following the merger, Bominflot Managing Director Peter Schreiber will be in charge of the entire Bominflot Group. Stefan Herde, Managing Director of Matrix Marine Holding, will be appointed as part of the Bominflot Group executive management team.

Bominflot is one of the leading independent bunker traders and suppliers with more than 35 years of experience. The business portfolio covers activities ranging from the supply of bunker fuels to lubricants, cargo trading and other services to the shipping industry. Operating around the globe with a staff of more than 300 in 36 offices worldwide, Bominflot is organized into three regions, The Americas, Europe/Africa and Far East/Middle East.

Via its subsidiary Matrix Marine, Mabanaft has been involved in the bunkering business for almost 15 years. The 1997 acquisition of Matrix Marine Fuels based in Houston marked Mabanaft's entry into the business, since which it has established itself as a leading independent supplier of bunker fuels and related services. Current locations are the US Gulf Coast, Singapore, Oman and India.

Mabanaft is the trading division of Marquard & Bahls, Germany, a leading independent petroleum company, privately owned. The business encompasses international trading and the import and wholesale of petroleum products. Furthermore, the company is active in service stations, bunker services, heating-oil retail, lubricants, biofuels and wood pellets. Through its subsidiaries and representative offices, Mabanaft is well positioned in all important regions worldwide.

For more information on Mabanaft, Matrix Marine and Bominflot, please visit www.mabanaft.com, www.matrixmarine.com and www.bominflot.net.

For media inquiries, please contact:

Jan-Willem van der Velden    
Managing Director     
Mabanaft GmbH & Co. KG    
+49 (0)40-370 04-554