|[December 17, 2012]
Macquarie Infrastructure Company LLC Reports on Recovery from Hurricane Sandy
NEW YORK --(Business Wire)--
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.
"The staff and management of our businesses pulled together to restore
these operations with minimal impact on the financial performance of
IMTT and Atlantic Aviation in 2012," said James Hooke, Chief Executive
Officer of MIC. "We're grateful to them and to their families for their
exceptional effort during this time."
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.
About Macquarie Infrastructure Company
Macquarie Infrastructure Company owns, operates and invests in a
diversified group of infrastructure businesses providing basic, everyday
services, to customers in the United States. Its businesses conist of
three energy-related businesses including a gas production and
distribution business (Hawaii Gas), a controlling interest in a district
energy business (District Energy), and a 50% interest in a bulk liquid
storage terminal business (International-Matex Tank Terminals). MIC also
owns and operates an aviation-related airport services business
(Atlantic Aviation). The Company is managed by a wholly-owned subsidiary
of the Macquarie Group. For additional information, please visit the
Macquarie Infrastructure Company website at www.macquarie.com/mic.
This filing contains forward-looking statements. MIC may, in some cases,
use words such as "project," "believe," "anticipate," "plan," "expect,"
"estimate," "intend," "should," "would," "could," "potentially," or
"may" or other words that convey uncertainty of future events or
outcomes to identify these forward-looking statements. Forward-looking
statements in this release are subject to a number of risks and
uncertainties, some of which are beyond MIC's control including, among
other things: changes in general economic or business conditions; its
ability to service, comply with the terms of and refinance debt,
successfully integrate and manage acquired businesses, retain or replace
qualified employees, manage growth, make and finance future
acquisitions, and implement its strategy; its shared decision-making
with co-investors over investments including the distribution of
dividends; its regulatory environment establishing rate structures and
monitoring quality of service, demographic trends, the political
environment, the economy, tourism, construction and transportation
costs, air travel, environmental costs and risks, fuel and gas costs;
its ability to recover increases in costs from customers, reliance on
sole or limited source suppliers, risks or conflicts of interests
involving its relationship with the Macquarie Group and changes in U.S.
federal tax law.
MIC's actual results, performance, prospects or opportunities could
differ materially from those expressed in or implied by the
forward-looking statements. Additional risks of which MIC is not
currently aware could also cause its actual results to differ. In light
of these risks, uncertainties and assumptions, you should not place
undue reliance on any forward-looking statements. The forward-looking
events discussed in this release may not occur. These forward-looking
statements are made as of the date of this release. MIC undertakes no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
MIC is not an authorized deposit-taking institution for the purposes of
the Banking Act 1959 (Commonwealth of Australia). The obligations of MIC
do not represent deposits or other liabilities of Macquarie Bank Limited
ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide
assurance in respect of the obligations of MIC.
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