Thursday, February 12, 2015
Kingston Oil Supply Corp. (Kosco), a full-service retail propane gas and heating oil company based in Hudson Valley, N.Y., sold its propane division and formed a strategic alliance for its fueloil division with Paraco Gas Corp. (Rye Brook, N.Y.). The sale of Kosco’s propane division to Paraco Gas includes service to 9000 existing Kosco propane accounts that use approximately 3.4 million gallons of propane annually. In addition, the two companies announced the strategic alliance of the 10-MMgal. (11,500 customers) Kosco fueloil business with Paraco.
Paraco Gas is one of the largest independent propane suppliers in the Northeast. Paraco has been serving the Hudson Valley area for more than 40 years. Kosco has been in business for nearly 60 years.
Kingston Oil Supply Corp. will continue to operate under the Kosco brand that has been providing energy products and services to residential, commercial, and industrial customers in the Hudson Valley under the leadership of the Motzkin family. Barry Motzkin will continue to oversee the Kosco fueloil operation.
Joseph Armentano, CEO of Paraco Gas, said, “Kosco was very selective about which company they would align themselves with and ultimately chose Paraco because of our long tradition of operating excellence, expertise in the energy market, and a deep commitment to our customers and the communities we serve.”
Paraco Gas is one of the largest independent propane suppliers in the Northeast. Paraco has been serving the Hudson Valley area for more than 40 years. Kosco has been in business for nearly 60 years.
Kingston Oil Supply Corp. will continue to operate under the Kosco brand that has been providing energy products and services to residential, commercial, and industrial customers in the Hudson Valley under the leadership of the Motzkin family. Barry Motzkin will continue to oversee the Kosco fueloil operation.
Joseph Armentano, CEO of Paraco Gas, said, “Kosco was very selective about which company they would align themselves with and ultimately chose Paraco because of our long tradition of operating excellence, expertise in the energy market, and a deep commitment to our customers and the communities we serve.”
