North Atlantic is entering into negotiations with ExxonMobil France to acquire a controlling interest (82.89 per cent) in the second largest refinery in France, and its associated chemical complexes.

The Gravenchon refinery, which sits on 1,500 acres in Normandy, has the capacity to process 230,000 barrels per day of crude oil and other feedstocks.

The President and CEO of North Atlantic, Ted Lomond, calls it a pretty big deal, and a “fantastic foothold” for the company in Europe.

“We’ve been growing for the last number of years. You’ve seen us expand into Atlantic Canada, you’ve recently seen us start a trucking company, you’ve seen us move into a number of directions and I think…in the case of Gravenchon, you’re dealing with a world-class asset.”

“It’s one of the top-performing refineries in the world, (and) it’s one of the biggest chemical operations in Europe.”