Simons Petroleum, Inc. ("Simons") announced
today a definitive agreement with Love's
Travel Stops ("Love's"). Under the
agreement, Love's national travel center
locations will become the anchor chain of the
successful Simons' Pathway Network, effective
May 9, 2008.
Created in 1994, Pathway Network provides
trucking fleets of all sizes with unique ways
to control volatile fuel costs through a
variety of proprietary offerings designed for
over-the-road trucking fleets. Pathway's 14
year relationship with its current anchor
chain, TravelCenters of America or "TA", will
officially end on November 7, 2008. Simons'
agreement with TA provides for a transition
period and the addition of the Love's
locations, beginning May 9, 2008, will
facilitate the transition period for all of
Simons' customers and give Pathway Customers
additional options for utilizing Pathway's
programs at the Love's locations.
Love's Travel Stops currently operates 150
Interstate facilities with plans to grow
their network of locations by 20 full
facility sites per year.
"We are excited for Love's to become
Pathway's new anchor chain. Both the Love's
and Simons organizations share similar values
and we believe Love's growth strategy is well
matched with our plans for the future." said
Brad Simons, President of Pathway Network.
In addition to the Love's locations, Pathway
Network will continue existing relationships
with Independent Truck Stop sites to ensure
the same nationwide coverage its customers
have experienced in the past.
Simons Petroleum, Inc. is a national
marketer of petroleum products, focused on
providing a comprehensive fuel and lubricant
offering to commercial and industrial
industries. Hedging and financial management
tools, proprietary fuel management
applications, engineering and testing
services and custom products differentiate
Simons in the marketplace. Simons is an
operating company of Maxum Petroleum, Inc.,
based in Old Greenwich, CT. Maxum is a
leading independent energy logistics company
that markets and distributes a comprehensive
offering of refined petroleum products and
services to commercial and industrial customers.