International-Matex Tank Terminals (IMTT), has been in operation for over 70 years and owns and operates 12 bulk liquid storage terminal facilities in North America with aggregate capacity of approximately 42 million barrels. Headquartered in New Orleans, Louisiana, IMTT is the fourth largest provider of bulk liquid storage and handling services in the United States. IMTT is a subsidiary of Macquarie Infrastructure Company (NYSE: MIC), which owns, operates and invests in a portfolio of infrastructure businesses in the United States.
IMTT has ten marine terminals located on the East, West and Gulf Coasts and the Great Lakes regions of the United States, and two partially owned terminals in the Canadian provinces of Quebec and Newfoundland. The largest terminals are located in New York Harbor (NYH) and on the Mississippi River near the Gulf of Mexico. The Geismar Logistics Center, IMTT's newest terminal facility located in Louisiana, was completed during 3Q 2008. IMTT stores and handles petroleum products, vegetable and tropical oils, renewable fuels, and various chemicals. In addition to the terminal operations, IMTT also offers environmental services through its affiliate, Oil Mop, L.L.C., which consist of providing spill remediation, tank and pipeline cleaning and other marine and industrial services to IMTT's terminals as well as to third party customers.
IMTT has a dominant market position in the New York Harbor and lower Mississippi River, which are two key port areas in the United States. IMTT enjoys approximately a one-third market share for bulk liquid storage in the NYH (the largest terminal), and has approximately two-thirds market share on the lower Mississippi River with the St. Rose, Gretna and Avondale, Louisiana facilities. IMTT continues to make strategic investments to increase market share and gain operational advantages versus competitors.
IMTT generates revenues from diverse sources in terms of geography, stored products and customers. IMTT serves the petroleum, chemical, consumer products, utilities and commodity industries.
There are no true substitutions for the bulk liquid storage industry, which is a key link in the supply chain for bulk liquid products. World economies would be disrupted without bulk liquid storage facilities that are required for accumulating and distributing the products stored.
IMTT was established by James J. Coleman, Sr. in 1939 with one terminal in Louisiana, and the Coleman Family expanded the enterprise over the past 70 years. For a period of time, (1975 – 1999), the business was operated in partnership with Van Ommeren (now Vopak). On January 1, 2000 the Coleman family acquired Van Ommeren's ownership interest and became the 100% owner of IMTT. In May 2006, Macquarie Infrastructure Company acquired a 50% interest in IMTT. In July 2014, MIC acquired the Coleman Family’s remaining interest in IMTT.