Posted in | News | Business | Petrochemicals

South Hampton Resources Receives Hydrocarbon Supply Contract from North American Customer

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Jun 30 2010

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South Hampton Resources, Inc., an affiliate of Arabian American Development Co. (Nasdaq: ARSD), today announced that it has signed a five-year replacement contract with an affiliate of a Fortune 100 company that allows sales in excess of $15 million per year based on current market values, which represents a continuing business relationship with a current purchaser.

The contract includes several different hydrocarbons that will be supplied to multiple plant locations for the customer within North America.

Mark Williamson, Vice President, Marketing, South Hampton Resources, ARSD's Specialty Petrochemicals business, commented, "The five-year new replacement agreement reflects South Hampton's long-term business relationship with the customer, superior product quality, our fast and flexible customer service and our market leadership. In addition, by negotiating a term agreement based on market indices, we will be able to minimize the impact to gross margins more effectively as market conditions change over the life of the agreement and is in-line with our stated objective to move larger customers to these types of pricing structures."

Source:

http://www.southhamptonr.com/

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