Vancouver’s Albina Fuel sells liquid asphalt division to North Dakota company

North Dakota construction material company Knife River Corporation purchased the liquid asphalt division of Albina Holdings, the Vancouver-based company announced Wednesday.

Albina Holdings, known regionally as Albina Fuel Co., has operated a heating-oil distribution business in the Portland-Vancouver area since 1903. The company moved its headquarters from Portland to downtown Vancouver in 2004, according to Columbian archives.

Albina plans to continue operating its propane business, Pacific Energy Group, and to invest in future-oriented products and services. The company, run by Greg Arnston and his brothers, Jeff and Jarl Arnston, is keeping its Vancouver headquarters.

Greg Arnston said he and his brothers look forward to continuing the family’s legacy “hopefully for the next 100 years.”

“As the energy industry evolves, we are positioned to continue being an innovative leader in the space,” he added.

Knife River employs about 5,700 employees across 14 states, including Washington, Oregon and California.

The new owner reported that it brought on many Albina liquid asphalt employees immediately after the deal closed earlier this month.

A representative for Albina didn’t disclose the division’s sale price. The sale was effective Nov. 2.