WFS Completes CarterEnergy Deal

by Ship & Bunker News Team
Wednesday September 5, 2012

Miami, Florida Headquartered World Fuel Services Corporation (WFS) [NYSE:INT] said Tuesday its wholly-owned subsidiary, World Fuel Services, Inc., has completed the acquisition of "select assets" of CarterEnergy Corporation (CarterEnergy).

"We are pleased to have the CarterEnergy team as a part of World Fuel and to increase our growing global land volume to more than 3.5 billion gallons," stated Michael J. Kasbar, president and chief executive officer of WFS.

According to the press release, Overland Park, Kansas based CarterEnergy is a branded distributor for Philips 66, BP, Valero, Suncor, Shell, ExxonMobil, Cenex and Sinclair.

The deal was originally announced last month and comes after the retirement of CarterEnergy CEO and owner Bryan Beaver, who joined the company in 1983.