NTR Acquisition is a special purpose acquisition company focused on the petroleum refining and marketing industry. NTR has announced that it had signed agreements to acquire Kern, a privately held independent petroleum refining and marketing company, from Casey, its sole shareholder.
As part of the acquisition, NTR expects to make strategic capital investments in Kern’s refinery operations to expand its conversion capacity and to improve its product yield.
Troy Roder, president and CEO of Foster Wheeler USA, said: Foster Wheeler is pleased to have been selected by NTR’s experienced management team to commence engineering projects for the Kern facility. NTR’s management has successfully executed such projects with Foster Wheeler in the past and we look forward to collaborating with it in this important undertaking within the company’s growth strategy in heavy crude oil refining.
