Canadian company Husky Energy has closed on the $435 million sale of the Calumet oil refinery in Superior. The facility refines around 50,000 barrels per day and employs around 180 people.
In a Wednesday news release, the company said it would retain its existing workforce.
The company has said the acquisition will increase Husky's heavy oil processing capacity and improve storage. The company hopes to position itself to meet growing asphalt demand.
The Superior refinery produces asphalt, gasoline, diesel and heavy fuel oils. The move provides the company with a direct connection to Husky's pipeline in Hardistry, Alberta, Canada.
The refinery will increase Husky's capacity downstream to around 395,000 barrels of oil per day.
Husky will acquire the refinery's assets, which include "two asphalt terminals, two product terminals, a marine terminal, 3.6 million barrels of crude and product storage and a fuels and asphalt marketing business," according to the company's new release.