Briefcase
From staff and news services
November 4, 2009
Irving Oil Terminals signs deal to buy Maine facilities
Irving Oil Terminals said Tuesday that it has signed an agreement with ExxonMobil to buy two petroleum terminals in South Portland and Bangor and the 124-mile pipeline that connects them.
The purchase is subject to regulatory review, with closing targeted for mid-December.
The company said it plans to continue full operation of the terminals and pipeline. "This acquisition enhances our ability to remain a secure and reliable energy supplier in Maine and New England generally," said Bob Blanchard, Irving's director of sales.
Irving Oil Terminals, a Fort Reliance company based in Portsmouth, N.H., is a commercial marketer and distributor of petroleum products throughout New England. This business is affiliated with Irving Oil Refining, which operates Canada's largest refinery in Saint John, New Brunswick.
General Dynamics contract adds work for plant in Saco
General Dynamics has won a $17 million contract to produce gun components for a system that's the last line of defense for most U.S. warships.
General Dynamics Armament and Technical Products says it was awarded the contract by Raytheon Missile Systems of Louisville, Ky. Production will be done in Saco, Maine, and will be managed from Burlington, Vt.
Originally developed for the Navy, the Phalanx utilizes a radar-directed, 20 mm Gatling gun that can be used against anti-ship missiles, aircraft and high-speed watercraft. A land-based version, mounted on wheels, can be used to protect ground forces and installations from rocket, artillery and mortar threats.
Verso Paper to use grant for energy projects at mills
Verso Paper Corp. will receive a $9.4 million federal grant to install waste-energy recovery technologies at three of its mills, including facilities in Jay and Bucksport.
The funding will support 12 waste-energy recovery sub-projects, chosen for their prospective energy savings and potential for immediate impact.
Nationally, the U.S. Department of Energy is awarding more than $155 million under the American Recovery and Reinvestment Act for industrial energy-efficiency projects in hospitals, utilities and industrial sites.
Grants will be leveraged with $634 million in private investment, for a total project value of up to $785 million. The industrial efficiency projects are projected to save the equivalent of 112 million gallons of gasoline per year.