PIRAEUS: Aegean Marine Petroleum Network Inc. (“Aegean” or “the Company”) ANW, +0.29% announced that it will commence immediate marketing operations in Russia.
Aegean’s operations in this region will include a marketing and business development office located in St. Petersburg, dedicated to sales and marketing of marine petroleum products across all Russian ports. With the assistance of five seasoned industry professionals, previously employed by OW Bunker, the Company expects to gain important local market intelligence, while providing enhanced service to clients at all Russian ports.
Nikolas Tavlarios, the Company’s President, commented, “We remain committed to meeting the increasing demand of our growing global customer base. This expansion is consistent with our opportunistic efforts to diversify our operations and enhance our global footprint. We believe that our expansion into Russia, combined with our recent entry into the U.S. Gulf Coast, U.S. West Coast, and German markets, demonstrates our continued actions to strengthen the Aegean network around the world. We are confident that Aegean is well positioned for continued growth, success and value creation in 2015.”
Aegean Marine Petroleum Network Inc. is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea. The Company procures product from various sources (such as refineries, oil producers, and traders) and resells it to a diverse group of customers across all major commercial shipping sectors and leading cruise lines. Currently, Aegean has a global presence in 30 markets, including Vancouver, Montreal, Mexico, Jamaica, Trinidad and Tobago, Gibraltar, U.K., Northern Europe, Piraeus, Patras, the United Arab Emirates, Singapore, Morocco, the Antwerp-Rotterdam-Amsterdam (ARA) region, Las Palmas, Tenerife, Panama, Hong Kong, Barcelona, the U.S. East Coast, Los Angeles, Long Beach, Algeciras, the Gulf of Mexico and Germany.
The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “intend,” “anticipate,” “estimate,” “project,” “forecast,” “plan,” “potential,” “may,” “should,” “expect” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
