Macquarie Infrastructure Sees Less Than $5M in Total Impact from Sandy
Macquarie Infrastructure Company (NYSE: MIC) operating companies International-Matex Tank Terminals (“IMTT”) and Atlantic Aviation have largely recovered from the effects of Hurricane Sandy. Both businesses report a substantial return to normal operations after the storm.
IMTT reports that its bulk liquid storage facility at Bayonne, NJ is receiving and delivering substantially all products by all modes of transport. While permanent power has been restored to most of the facility, backup systems are in place and working in those parts of the facility still without permanent power.
Atlantic Aviation's fixed base operations at airports in Teterboro, NJ, Farmingdale, L.I., and Bridgeport, CT, as well as its heliport on East 34th Street in New York City were damaged or disrupted by the hurricane. Each facility has been restored and normal operations have resumed.
MIC expects its financial results for the fourth quarter to reflect approximately $2.3 million in payments of insurance deductibles and less than $5 million in total impact from the storm.
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