KILGORE, Texas, May 13, 2019 (GLOBE NEWSWIRE) — Martin Midstream Partners L.P. (Nasdaq:MMLP) (“the Partnership”) announced that an incident occurred at its Neches Terminal in Beaumont, Texas in the early morning on Friday, May 10, 2019 causing structural damage to the terminal’s mobile ship-loader and crane. There were no injuries to plant personnel or marine crews related to this event. Until the damage is repaired, the terminal will be unable to load prilled sulfur onto oceangoing vessels.
The incident occurred during severe weather passing through the area. No other structures were impacted and all other terminalling operations are fully functional. At this time, the Partnership is not able to estimate the time necessary to repair the damage or the cash flow impact, but believes that it carries adequate insurance to protect against the losses incurred.
About Martin Midstream Partners (NASDAQ:MMLP)
The Partnership is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership’s primary business segments include: (1) natural gas services, including liquids transportation and distribution services and natural gas storage; (2) terminalling, storage and packaging services for petroleum products and by-products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) land and marine transportation services for petroleum products and by-products.
Statements about the Partnership’s outlook and all other statements in this release other than historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements and all references to financial estimates rely on a number of assumptions concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the Partnership’s control, which could cause actual results to differ materially from such statements. While the Partnership believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in anticipating or predicting certain important factors. A discussion of these factors, including risks and uncertainties, is set forth in the Partnership’s annual and quarterly reports filed from time to time with the Securities and Exchange Commission. The Partnership disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events, or otherwise except where required to do so by law.
Additional information concerning the Partnership is available on the Partnership’s website at www.MMLP.com or by contacting:
Sharon Taylor – Head of Investor Relations