For $180 million, PBF Holding Co. L.L.C. is acquiring a refinery in Paulsboro, N.J. from Valero Energy Corp., less than a year after PBF acquired a Valero refinery in Delaware City, Del.
The Paulsboro refinery is located on the Delaware River 10 miles south of Philadelphia, and is capable of producing 185,000 barrels of petroleum products daily.
“With the Paulsboro acquisition, PBF will own the two most complex refineries in PADD 1,” said Thomas O”™Malley, chairman of Greenwich-based PBF, in a prepared statement. “There are tremendous synergies with the Delaware City refinery.”
Greenwich-based First Reserve Corp. and New York City-based Blackstone Group are in the process of purchasing shares of PBF they do not already own from Petroplus Holdings AG of Switzerland.
GE purchases Fla.-based Calnetix
General Electric Co. grabbed Calnetix Power Solutions, a Stuart, Fla.-based producer of systems to capture the heat produced by industrial machines and use it to generate electricity.
Fairfield-based GE did not immediately disclose what it paid for Calnetix Power Solutions, which was spun out this year with $7 million in financing from Yorba Linda, Calif.-based Calnetix Inc., a maker of high-speed motors and generators. Calnetix acquired the business less than three years ago when it was known as Elliot Energy Systems.
Calnetix Power Solutions joins GE”™s Jenbacher gas engine business, which is based in Austria.
