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Mon 4 Apr 2011, 13:09 GMT

WFS acquires Ascent Aviation Group


Marine, land and aviation fuels specialist completes acquisition of New York-based distributor.

World Fuel Services Corporation has announced today that its wholly-owned subsidiary, World Fuel Services, Inc., has completed the previously announced acquisition of Ascent Aviation Group, Inc., a leading distributor of aviation fuel and deicing fluids.

"The acquisition of Ascent further strengthens our platform in the general aviation fuel distribution business and expands our product offering," stated Michael J. Kasbar, president and chief operating officer of World Fuel Services Corporation. "We are pleased to welcome Ascent to the World Fuel organization and are looking forward to working with their talented team."

Ascent, based in Parish, New York, supplies aviation fuel and deicing fluid to more than 450 airports and fixed base operators throughout North America. Ascent is a national branded reseller of aviation fuel for ConocoPhillips and is the exclusive third-party distributor of deicing fluids for Dow Chemical in the United States.

The transaction is expected to be $0.03 to $0.05 accretive to earnings in the first twelve months, World Fuel Services said.

Deal   United States 
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