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Indy asphalt company acquires Midwest terminals

INDIANAPOLIS (Inside INdiana Business) — An Indianapolis-based Asphalt company is adding to its Midwest footprint. Asphalt Materials Inc. says it has acquired three asphalt terminals from a subsidiary of Marathon Petroleum Corp. (NYSE: MPC), though financial details of the deal are not being disclosed.

The terminals are located in Mount Vernon; St. Elmo, Illinois; and Benton, Illinois. AMI says it plans to retain the current leadership teams and employees at all three terminals.

“We are excited about the addition of our new teammates,” Chip Ray, president of Asphalt Materials, said in a news release. “Their proven track record of safety, quality, and service will mesh well with the values of Asphalt Materials. These facilities are a tremendous strategic fit for our business and will enhance our commitment to support our core customer base.”

AMI says it will continue to invest in all three facilities, though it would not give a specific dollar amount for the investments or details on how many new jobs could be created.