Intercontinental Terminals Company

ITC was founded on February 24, 1972, with its purpose to construct, operate, maintain, and grow Mitsui & Company (U.S.A.) Inc. terminal assets. The Terminal broke ground after taking title to 11 acres on December 1, 1971 located on the inlet of Tucker Bayou next to Rohm and Haas. Simultaneously, with this purchase, ITC concluded a long-term lease with Union Equity Cooperative Exchange for an existing dock with deepwater that was contiguous to the 11 acres. In 1974, a dock which the facility was leasing from Union Equity became available for sale. Included in this purchase was an existing warehouse built over the dock that was used to store bagged rice for export. Mitsui purchased a 50% interest in the dock, storage warehouse, and deepwater berth which increased the size of the facility by an additional 18 acres. Within a year, another opportunity was presented when Rollins Environmental Services offered to sell their interest in a dock and 135 acres of land. This property was south of Tidal Road and was not contiguous to the existing 18 acres. ITC successfully acquired the 135 acres from Rollins, but eventually resold 80 of these acres back to Rollins. By 1976, with dock ownership and the newly acquired acreage, ITC constructed a key installation for Exxon ChemicalCompany.