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E. Nikolas Tavlarios, President, commented, "This is an exciting opportunity for Aegean, as we are strategically expanding our presence in the Western Mediterranean by entering this rapidly growing port. Our presence in the Port of Algeciras Bay will further enhance our ability to serve our customers in this region, while also allowing Aegean to utilize our built-in fleet capacity and storage capabilities, which should drive both profit margins and volumes. "Over the past several years, we have continued to execute our strategy of opportunistically entering and exiting markets as appropriate to strengthen our competitive positioning, and this development is perfectly aligned with this operating philosophy," continued Mr. Tavlarios. "We are taking decisive actions to diversify our geographic presence, expand our revenue base and increase our earnings potential. We are continuing to deliver on the promise of the Aegean model and this event is yet another milestone illustrating our dynamic progress." About Aegean Marine Petroleum Network Inc. Aegean Marine Petroleum Network Inc. is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea. The Company procures product from various sources (such as refineries, oil producers, and traders) and resells it to a diverse group of customers across all major commercial shipping sectors and leading cruise lines. Currently, Aegean has a global presence in 20 markets, including Vancouver, Montreal, Mexico, Jamaica, Trinidad and Tobago, Gibraltar, U.K., Northern Europe, Piraeus, Patras, the United Arab Emirates, Singapore, Morocco, the Antwerp-Rotterdam-Amsterdam (ARA) region, Las Palmas, Tenerife, Cape Verde, Panama, Hong Kong and Barcelona. The Company has also entered into a strategic alliance to extend its global reach to China. To learn more about Aegean, visit http://www.ampni.com. Source: Aegean Marine Petroleum Network Inc. |