Gibson Energy Inc. has sold its U.S. environmental services businesses for $125 million, clearing the way for the energy infrastructure company to expand its Canadian oil and gas storage system.
Calgary-based Gibson found two buyers, which it did not disclose, for businesses that have 1,000 employees and do everything from scrubbing oil tanks to cleaning wastewater from energy projects.
Along with the U.S. businesses, Gibson plans to sell up to four more business units over the next 18 months at an investor-day presentation in January; these include its trucking operations in Canada and the U.S. The company expects to raise up to $375 million from these divestitures. Last year, Gibson also sold its industrial propane business for $412 million.
For more information, visit www.gibsonenergy.com or call (403) 206-4000.