Press release from Business Wire
NuStar and Road Science to Work Together on Asphalt Development, Supply and Marketing Initiatives
Wednesday, July 28, 2010
NuStar and Road Science to Work Together on Asphalt Development, Supply and Marketing Initiatives12:00 EDT Wednesday, July 28, 2010 SAN ANTONIO (Business Wire) -- NuStar Asphalt Refining, LLC and Road Science LLC today announced a joint effort in which the two companies will work together in the development, supply, and marketing of asphalt products. The agreement will bring together NuStar's extensive asphalt production and distribution system and technical and specialty asphalt products business, with Road Science's portfolio of innovative system products, technical services and industry expertise, all in an effort to bring superior pavement solutions to their respective customers. San Antonio-based NuStar is one of the largest asphalt refiners and marketers in the United States. The company has asphalt refineries in Paulsboro, NJ, and Savannah, GA, which have a combined throughput capacity of 104,000 barrels per day. The company also produces its own line of high-quality asphalt products, and has an extensive terminal system to store and distribute millions of barrels of asphalt products throughout the country. Road Science, based in Tulsa, Oklahoma, is one of the leading innovation and technology service providers for the road paving industry. The company focuses on pavement preservation and maintenance, recycling, rehabilitation, and material technologies. Road Science also has a world-class research and development laboratory in Tulsa, which will service the venture by providing research & development, formulation support, mix design services, performance testing and forensics capabilities. “This venture brings the best of both worlds together for a strong presence in the asphalt marketplace,” said Curt Anastasio, president and CEO of NuStar. “Both companies bring innovative designs and strong technical and marketing resources to the venture. And it will allow NuStar to expand our asphalt product slate and geographic reach across the country. We are looking forward to a long and prosperous relationship with the Road Science team.” “We are very excited to have NuStar as a partner,” said Frank Panzer, Road Science CEO. “Their numerous manufacturing and supply facilities across the country will help provide a consistent supply of quality asphalt and enable Road Science to more efficiently commercialize new technology offerings as well as deliver our existing system products the market knows and trusts. In addition, NuStar possesses a strong operational and technical group that will complement our focus on delivering effective pavement solutions.” About NuStar NuStar Energy L.P. (NYSE:NS) is a publicly traded, limited partnership based in San Antonio, with 8,417 miles of crude oil and refined product pipelines; 89 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids; and two asphalt refineries with a combined throughput capacity of 104,000 barrels per day. The partnership's combined system has over 93 million barrels of storage capacity. One of the largest asphalt refiners and marketers in the U.S. and the second largest independent liquids terminal operator in the nation, NuStar has operations in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. For more information, visit NuStar Energy L.P.'s Web site at www.nustarenergy.com. About Road Science Road Science LLC, a privately held company based in Tulsa, OK, is the leading technology company for the road paving industry, employing over 100 technical and marketing professionals. The company focuses on preservation and maintenance, recycling, rehabilitation and material technologies through a solution suite of technical and professional services, branded products and process methods. The company's world class, AASHTO R18 certified, lab is key to the development of new products and processes that enable agency customers to build and maintain better, safer, longer lasting roads with lower overall life cycle costs and less user delays. For more information, visit Road Science's web site at www.roadsciencellc.com.