Texas Marine acquires Houston Marine Services

With $180 mln in annual revenues, HMS work includes potable water and wastewater treatment services...

HOUSTON, April 14, 2005 (PRNewswire) -- Texas Marine Services Inc., a U.S. citizen owned corporation affiliated with the Heidmar group of companies based in Darien, Conn., announced today the acquisition of Houston Marine Services, Inc.

HMS, which employs 150 people and generates $180 million in annual revenues, is a marine fuel, lubricants and marine service provider supporting customers with operations along the Texas and Louisiana coastline and offshore in the Gulf of Mexico. For more than a quarter of a century, HMS has supplied products and services to ships, barges, towboats, tugs, offshore supply boats and seismic vessels. This friendly acquisition will enhance the high quality of services and efficiencies that HMS currently brings to the market place. HMS's major customers and suppliers include most of the major oil companies and other marine services providers. The business will continue to trade under the HMS name.

HMS's largest marine terminal is strategically located on fifty acres along the North side of the Houston Ship Channel directly across from the San Jacinto Monument. The company has additional operations in Port Arthur, and Texas City, Texas and Lake Charles, La. HMS has a fleet of five towboats, 12 barges and a small tanker. These marine assets qualify for U. S. coastwise trade under the Jones Act and are capable of carrying various grades of fuel oil, distillates, potable water, marine lubricants, personnel, equipment and stores to vessels and offshore platforms in the Gulf of Mexico. HMS also operates a modern wastewater treatment plant, which supports both internal and customer requirements, at its main facility on the Houston Ship Channel.

Jim Bailey, who is president of Heidenreich Lightering Services Inc. and the newly elected President of TMS, stated: "The Texas Marine Services acquisition of Houston Marine Services was based upon a desire to enter the bunker and marine services industry with an organization that has a strong management team and a customer and quality oriented business focus. The acquisition of Houston Marine Services is a perfect fit for the proven Heidmar philosophy of bringing value to its customers by marrying good people with state-of the-art systems."

HMS president Geren Graham commented: "The purchase by Texas Marine Services provides Houston Marine Services with access to advanced technologies and business procedures, which will allow the company to grow without sacrificing any of our quality oriented customer focus."

For additional information, visit the Houston Marine Services website at www.hmsfuels.com and the Heidmar website at www.heidmar.com.

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