PHILIPSBURG–Sol has acquired the assets of the Koolbaai Terminal from Gilbert Bigio Energy Group (GBE) in September, Sol Antilles General Manager for the Northern Caribbean David Antrobus has confirmed.
Antrobus told The Daily Herald the acquisition does not involve the Texaco network of service stations in St. Maarten. “Sol and GBE will continue their independent and parallel marketing and distribution businesses of their own products and for their respective networks in St. Maarten,” Antrobus said.
“Sol’s purchase of the GBE assets is in line with our business strategy of growth and investment. We are pleased to be able to continue to invest in St. Maarten, and take pride in supporting the rebuilding efforts of the country, most recently with the reconstruction of five service stations and storage facilities at Sucker Garden, Madame Estate, St. Peters, Risdon’s and R&R Tackling,” Antrobus said.
He stressed that GBE will continue with its day-to-day activities and will continue to operate the Koolbaai Terminal under a lease agreement with Sol (that has become the owner of the assets). “Both companies will remain as key players and competitors in the petroleum industry in St. Maarten.”
Koolbaai is the name of the oil terminal that GBE used to own, which Sol bought. It contains all the tanks, the loading gantry and liquefied petroleum gas (LPG) cylinder filling plant. It is situated next door to the Cay Bay power plant of utilities company GEBE.
The terminal receives, stores and delivers petroleum products. Gilbert Bigio Energy Group is the company which operates under the Texaco brand in St. Maarten.
Source: The Daily Herald https://www.thedailyherald.sx/islands/91497-sol-acquires-assets-of-koolbaai-terminal