Trammo sells Sea-3 of Florida facility to Plains

Trammo, a global LP gas shipper and trader, sold its Port Tampa Bay facility in Tampa, Florida, to Plains LPG Services, a unit of Houston-based Plains All American Pipeline LP. The sale price was not disclosed.

Sea-3 of Florida Inc., a division of Trammo, previously operated the Tampa facility. The company had plans to invest $15 million to add infrastructure to the facility in 2015. Those additions included plans for the facility to receive LP gas via rail and to store LP gas in three 90,000-gallon storage tanks.

Trammo also plans to sell its Newington, New Hampshire, propane terminal, Reuters says. Trammo partnered with Houlihan Lokey Inc., an investment bank, to explore alternatives for the New Hampshire terminal that include a sale or continued ownership. The bank is currently marketing the facility through a formal sale process, says William Markstein, a Trammo senior vice president.