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Western Refining Facing New Year’s Strike at St. Paul Park Facility
(St. Paul Park, Minn.) — Following a unanimous 148-0 strike authorization vote by Teamsters working at Western Refining’s [NYSE: WNR] St. Paul Park, Minn. refinery, the International Brotherhood of Teamsters will host a call to update industry analysts and investors of both Western Refining and proposed acquirer Tesoro Corp [NYSE: TSO] about a potential strike that could shut down the facility as soon as midnight of Dec. 31. Approximately 185 workers at the Western refinery are represented by Teamsters Local 120.
The St. Paul Park refinery provides fuel to several hundred retail gas stations and convenience stores in the upper Midwest, including 285 SuperAmerica locations in South Dakota, Minnesota and Wisconsin either wholly owned or franchised by Western Refining. In the event of a shutdown, the locations of Western’s other refineries in El Paso, Texas and Gallup, N.M., would make it virtually impossible to adequately or cost-effectively service Midwest customers.
In November 2016, Western Refining’s board of directors accepted a buyout offer from Tesoro Corp in a stock-for-stock transaction valuing Western’s shares at $37.30 per share. Pending shareholder and regulatory approval, the companies anticipate closing the transaction during the first half of 2017.
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WHO: Western St. Paul Park refinery workers and representatives from the Teamsters Union
WHAT: Update for reporters, investors and industry analysts on contract talks and implications of a refinery strike
WHEN: Thursday Dec. 29, 2016 at 2:00 p.m. EST
CALL-IN: U.S.: (800) 230-1059; International: (612) 234-9959