Kirby Enters Tank Barge Deal With Dow

Thursday, February 08, 2001
Kirby Corp. entered into a long-term lease with a subsidiary of The Dow Chemical Co. for 94 inland tank barges. The lease agreement is expected to be marginally additive to Kirby's earnings, the company said. On Jan 31, Kirby projected earnings for 2001 in a range of $1.45 to $1.55. "At the present time, we feel an adjustment to that range is not in order," said Joe Pyne, president and CEO. The barges were acquired by Dow as part of the recent merger between Union Carbide Corp. and Dow. Used to transport bulk liquids, the barges have total capacity of 1,335,000 barrels. - (Reuters)

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