Shermen WSC Acquisition Corp., a special-purpose acquisition company, announced today that it has completed the acquisition of the Westway bulk liquid storage and liquid animal supplement businesses of ED&F Man Holdings Limited. The company also announced that it has changed its name to Westway Group, Inc.
Shermen (now known as Westway Group, Inc.) looks forward to setting a record date in the next several days for the previously announced $1.00 per share special dividend payable to each holder of its common stock as of the record date.
Peter Harding, Chief Executive Officer, stated, â€œThe management of Westway are very excited about the merger with Shermen. It gives Westway an excellent platform to materially grow its bulk liquid storage and liquid supplement businesses.â€
Francis P. Jenkins, Jr., founder and Chairman, added, â€œWestway is an excellent company that will reap strong benefits from its new status as a public company.â€