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Leading independent bunker supplier Aegean Marine Petroleum Network Inc.(AMPNI) has revealed that it has completed its previously announced acquisition of ICS Petroleum.

The announcement follows last month's disclosure that Aegean had entered into an agreement to acquire the vancouver-based firm, which physically supplies and markets marine fuel in Canada and Mexico.

Formed in 1984, ICS markets bunker fuel to the Western and Eastern Canadian markets from its offices in Vancouver and Montreal. In addition, the Company acts as a physical supplier in Vancouver. ICS also markets marine fuel in Mexico. In 2007, the company sold over 560,000 metric tons of marine fuel across all its regions.

As part of the acquisition, Aegean agreed to purchase two single-hull bunker barges from ICS. The vessels are eligible for employment until 2015.

ICS Petroleum will function as a wholly owned subsidiary of Aegean and will continue to operate business out of its Vancouver and Montreal offices.

Speaking about the acquisition last month, E.Nikolas Tavlarios, President of AMPNI said "With the acquisition of ICS, Aegean is positioned to once again capitalize on an attractive market opportunity that further expands its global network for the physical supply of marine fuel. ICS has a well-established business with a strong reputation that will provide a critical bunkering presence for Aegean in North America."