ACL Buys ConAgra Barge Fleet

Wednesday, May 17, 2000
ConAgra Inc., the second largest U.S. food manufacturer, said last week it agreed to sell American Commercial Lines LLC (ACL) its large U.S. inland barge fleet and operations. Financial terms of the deal, which ConAgra said was part of ongoing series of strategic divestments, were not announced. But ACL will acquire 930 owned and chartered barges, nine chartered towboats and one dry dock, the companies said in a joint statement. The deal includes Peavey Barge Lines, Brown Water Towing Inc. and Superior Barge Lines, Inc. The transaction is subject to regulatory approval but is expected to be completed in the next 30 days, they said. Greg Heckman, president and CEO, ConAgra Trade Group, said, "Our decision to sell the barge company is a strategic one. This will allow us to focus our efforts on supporting ConAgra and our customers in the areas of commodity origination, marketing, merchandising, trading and risk management services." Omaha, Neb.-based ConAgra generates 20 percent of its $25 billion in annual sales from agricultural products. The remaining 80 percent derives from sales to food retail and foodservice customers. ConAgra has divested 16 businesses across the organization since mid-1999. Jeffersonville, Ind.-based ACL operates more than 4,300 barges and 200 towboats on the inland waterways of North and South America.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Global LNG-Asia Prices Creep Higher on Japanese Demand

Asian spot liquefied natural gas prices edged higher as scattered demand from Japanese buyers and others helped stem the recent decline in prices, traders said on Friday.

Drop in Cocoa Bean Size Worries Ivorian Exporters

Dry weather in top cocoa grower Ivory Coast has caused a sharp drop in bean size and will delay the start of the April-to-September mid-crop by nearly two months,

Wärtsilä, CME Offer ‘Scrubber Finance’

Funding concept promotes installation of scrubber systems by offering financing to shipowners, with returns taken from fuel price spread   In a move intended

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1060 sec (9 req/sec)