Macquarie Infrastructure Company (NYSE: MIC) reported that operations affected by Hurricane Sandy on October 30, 2012 were coming back on line on Monday, November 5, 2012. The Company noted that at its bulk liquid storage terminal in Bayonne, NJ, IMTT - Bayonne, about half of the facilities at the site were back to normal operation and that all of its Atlantic Aviation fixed base operations (FBO) in the region were in operation.
At IMTT-Bayonne power has been restored and the majority of the facility's piers have been inspected and cleared for operations. Damage assessments have not indicated leakage from any tanks or pipelines.
"The U.S. Coast Guard has reopened New York Harbor to vessel traffic and, thanks to a lot of hard work by a lot of people at both IMTT and in the public sector, liquid products are once again flowing through the IMTT terminal," said James Hooke, CEO of Macquarie Infrastructure Company.
IMTT will continue to work throughout the week - including with relevant authorities - to ensure Bayonne returns to full operations as quickly as possible and permitted.
Atlantic Aviation's operations at Teterboro, NJ, Farmingdale on Long Island, Bridgeport in Connecticut and at the East 34th Street heliport in New York City were all affected by the hurricane. Operations at all three airports have been restored and the heliport is open and providing limited services as repairs continue.
"There has been a tremendous effort on the part of the Atlantic team to get these facilities up and running again," noted Hooke.
The airport in Farmingdale is serving as the base of operations for Federal Emergency Management Agency (FEMA) and U.S. Coast Guard operations on Long Island.
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 consist of three energy-related businesses including a gas production and distribution business (The Gas Company in Hawaii), 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 . MIC-G
Forward-Looking Statements
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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