HEATING OIL PARTNERS INCOME FUND
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Heating Oil Partners Income Fund is a Canadian company engaged in the wholesale distribution of petroleum and petroleum products. The company was incorporated in 2002. The registered business office of the company is located in Toronto, Canada.
The company offers a wide range of products such as crude oil, gasoline, liquefied petroleum gas (LPG), coal, and other minerals and ores. It also covers petroleum bulk stations and terminals.
Heating Oil Partners Income Fund is active and operational in Canada.
The company serves the residential, commercial and fleet-fueling customers.
The Company primary business is the distribution of heating oil and other refined petroleum products to residential and commercial customers in the northeastern United States.
Description and history
Heating Oil Partners Income Fund is an open-ended, limited purpose trust established under the laws of the Province of Ontario that commenced operations effective May 20, 2002. The Fund indirectly owns 86% of Heating Oil Partners, L.P. (‘HOP’), one of the largest residential heating oil distributors in the United States.
Fund units are listed on the Toronto Stock Exchange on May 21,2002 under the symbol HIF.UN and provide unitholders with monthly cash distributions based upon the distributable cash flow of HOP.
HOP’s primary business is the distribution of heating oil and other refined petroleum products to residential and commercial customers in the northeastern United States.
HOP’s high-quality residential customer base is attracted to its value-added product and service offerings. Over 94% of HOP’s customers are enrolled in automatic delivery plans and 75% purchase their product under fixed or capped price stabilization programs. HOP also offers its customers preventative maintenance, repair and replacement services for their heating and air conditioning systems.
HOP’s commodity and volume management programs help mitigate the impact that variations in the wholesale price of heating oil and weather conditions have on its operating results. HOP considers these programs to be an integral component of its strategy of building a strong base of high-quality customers while managing long-term consistent operating performance.
HOP is a ‘consolidator’ of existing distributors in the residential and commercial petroleum products business. Since its inception in 1995, HOP has acquired and integrated the assets of 37 distributors and service businesses, including four in 2002. HOP intends to pursue additional acquisitions as opportunities arise.
Heating Oil Partners Income Fund Advised of Suspension and Delisting of Units from the TSX
Toronto, Ontario, October 4, 2005. Heating Oil Partners Income Fund announced today that it has been advised by the TSX that the Fund’s units will be suspended from trading on the TSX effective at the close of business on Thursday, October 6, 2005. Trades executed before that time will settle in the normal course. It is expected that the Fund’s units will be formally delisted from the TSX on November 7, 2005. At this time, it is not expected that an alternative listing for the Fund’s units will be obtained on another public
Engaged in the wholesale distribution of petroleum and petroleum products
US SIC Code
P.o. Box 270
Td Centre, Suite 3000
City province or state postal code
M5K 1N2, TORONTO, ON
Phone: +1 2036558290
Fax: +1 2036559273
Country address: CANADA
Website url: www.hif-un.com