Canadian Based Oil Company Buys Out Calumet
A Deal Worth Nearly 500 Million Dollars
SUPERIOR, Wis. – One of Superior’s largest employers, Calumet Oil Refinery, is being sold to a Canadian company.
“This is a key wonderful addition to our asphalt business into our integrated corridor in North America.” Jerry Miller, U.S. Refining, Vice President
The new owner, Husky Energy tells Fox 21 they plan to keep the roughly 180 workers at the refinery.
“We’ll have a transition process and a transition team that helps with that whole piece, but really for Kollin and most the folks here, you’re not going to see much change,” Miller stated.
After a 5 month period of not knowing the direction of the company employees can now rest easy.
“I think it’s a relief. The Husky Energy folks have already informed everybody that the employees would be hired in to the new companies. So it will be a smooth transition,” Kollin Schade, Calumet Refinery Manager said.
After closing the purchase deal, the deal will reach nearly $500 million. A move that will benefit both companies.
“Probably a better fit for the Superior refinery being actually a fuels refinery than maybe perhaps even we were with Calumet Specialty Products,” said Schade
While also keeping good paying jobs in the community.
Schade added, “It’s a good move over all for the refinery, for the community itself and for the employees. Husky Energy is a well–known integrated oil company that’s going to bring a lot of strength to this organization.”
Husky Energy specializes in gasoline, diesel and jet fuel, the produce almost two billion gallons of refined petroleum product annually.
Something that Superior’s refinery is very familiar with, making it an easy road for future expansion.
“We’ll sit down and start putting those long-range plans together, and that’s when it’s going to get exciting and interesting for all of us,” said Schade.
Their doing their best during this whole process, keeping the community’s best interest in mind.
“Taking care of the community and the key stake holders in the region, it’s part of who we are, it’s part of our mission, it’s part of what we do,” said Miller.
“We want to continue to afford that safe environmental stewardship to the community that we always have. That’s the direction and the mission that will continue regardless of the ownership,” Schade added.
The transaction is still subject to customary closing conditions and regulatory approvals at this time.