Hollywood Marine Inc News

C. Berdon Lawrence retires from Board after 13 years of service, William M. Waterman, former President of Penn Maritime, elected to Board. Kirby Corporation, based in Houston, Texas, is the nation's largest domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. Mr. Lawrence is retiring to devote more time to family and other business interests, having served as Chairman of the Board of Kirby from October 1999 to April 2010 and has served as Chairman Emeritus of the Kirby Board since April 2010. Mr. Lawrence was the founder and former President of Hollywood Marine, Inc. an inland tank barge company acquired by Kirby in October 1999.

Kirby Corporation (NYSE:KEX) announced the retirement of C. Berdon Lawrence, Kirby's Chairman of the Board, effective April 27, 2010, the date of Kirby's 2010 Annual Stockholders and Board of Directors Meetings. Mr. Lawrence has served as Chairman of Kirby since October 1999. He was the founder and former President of Hollywood Marine, Inc., an inland tank barge company acquired by Kirby on October 12, 1999. Lawrence will serve as a consultant to Kirby and will remain on the Kirby Board. Commenting on his retirement from Kirby, Lawrence stated, "Ten years ago on this date, October 12, 1999, we merged Hollywood with Kirby, combining the United States' largest and third largest inland tank barge companies, and by all business and financial measurements, it has been a very successful merger.

Kirby Corporation – which operates 774 inland tank barges, with 14.0 million barrels of capacity, and 229 towing vessels -- reported net earnings for the 2000 first quarter of $6,067,000, or $.25 per share. Net earnings for the 1999 first quarter were $4,001,000, or $.20 per share. The 2000 first quarter results include the acquisition in October 1999 of Hollywood Marine, Inc., accounted for under the purchase method of accounting. Movements in each of Kirby's inland tank barge markets were generally at, or above, expected levels. Refined products movements to the Midwest were unseasonably strong, the result of gasoline inventory anomalies in the Midwest. Fertilizer movements were also stronger than usual during the first quarter.

trade association for the American tugboat, towboat and barge industry, elected a new Chairman, Steven P. 22 during the AWO Spring Convention. Mr. Marine, LP, based in Houston, Texas and Mr. headquartered in Coos Bay, Oregon. AWO Chairmen serve for a one year term. Mr. system, in order to enhance industry safety. Mr. of AWO members in AWO advocacy efforts. Mr. Valerius has 26 years of experience in the barge and towboat industry. largest fleet of inland tank barges and towing vessels. Hollywood Marine, Inc. and Kirby in 1999, Mr. Hollywood Marine, the last being Executive Vice President. Conservancy, and the Texas Waterways Operators. Mr. the University of Texas at Austin with a BBA in Accounting. Accountant and has a J.D. from South Texas College of Law. Accepting the position, Mr.

Kirby Corp., the largest U.S. tank barge operator, has agreed to buy Hollywood Marine Inc., an inland tank barge company based in Houston, for about $325 million. Kirby, also based in Houston, said the purchase price consists of $90 million in stock, $135 million in cash and the assumption or refinancing of about $100 million of Hollywood debt. Kirby plans to merge the privately-held company into one of its subsidiaries and hopes the acquisition boosts its profits in the year 2000 and add to cash flow. As part of the deal, Kirby will name C. Berdon Lawrence, Hollywood Marine's president and principle shareholder, as chairman of Kirby and make its current chairman, George Peterkin, chairman emeritus.

Kirby Corp, the largest U.S. tank barge operator, recently agreed to buy Hollywood Marine Inc., an inland tank barge company based in Houston, Texas, for about $325 million. While the company views Hollywood's operations as complementary to its core inland tank barge operations, some analysts were immediately skeptical of the effects on Kirby's bottom line. Standard & Poor's placed its triple-'B' corporate credit and senior unsecured debt ratings for Kirby Corp. on CreditWatch with negative implications. The CreditWatch listing reflects an increased debt burden that Kirby will incur as a result of its acquisition of Hollywood Marine Inc. As part of the deal, Kirby said it would name C.

Kirby Corp, the largest U.S. tank barge operator, recently agreed to buy Hollywood Marine Inc., an inland tank barge company based in Houston, Texas, for about $325 million. While the company views Hollywood's operations as complementary to its core inland tank barge operations, some analysts were immediately skeptical of the effects on Kirby's bottom line. Standard & Poor's placed its triple-'B' corporate credit and senior unsecured debt ratings for Kirby Corp. on CreditWatch with negative implications. The CreditWatch listing reflects an increased debt burden that Kirby will incur as a result of its acquisition of Hollywood Marine Inc. As part of the deal, Kirby said it would name C.

Despite a downgrading in rating from various credit agencies, Kirby Corporation's recent acquisition of Hollywood Marine is designed to reduce costs, as the inland tank barge operations of both companies are highly complementary. Kirby Corp, the largest U.S. tank barge operator, has agreed to buy Hollywood Marine Inc., an inland tank barge company based in Houston, for approximately $325 million. Kirby, also based in Houston, said the purchase price consists of $90 million in stock, $135 million in cash and the assumption or refinancing of about $100 million of Hollywood debt. "Hollywood's operations are complementary to our core inland tank barge operation and are an excellent fit within Kirby's strategy of growing our core businesses through synergistic acquisitions…

Kirby Corp, the largest U.S. tank barge operator, has agreed to buy Hollywood Marine Inc., an inland tank barge company based in Houston, for approximately $325 million. Kirby, also based in Houston, said the purchase price consists of $90 million in stock, $135 million in cash and the assumption or refinancing of about $100 million of Hollywood debt. "Hollywood's operations are complementary to our core inland tank barge operation and are an excellent fit within Kirby's strategy of growing our core businesses through synergistic acquisitions," Kirby CEO and President J.H. Pyne said. As part of the deal, Kirby said it would name C. Berdon Lawrence…

Kirby Corp., the nation's largest tank barge operator, expects to save at least $10 million per year due to its acquisition of Hollywood Marine Inc. Kirby agreed to buy the inland tank barge company in July for about $325 million. Closing of the deal is scheduled to occur this week. "Cost savings, through the consolidation of the corporate headquarters, the elimination of duplicate administrative and operating staffs and expenses, and improved operating efficiencies in the marine transportation division, are estimated to be at least $10 million per year," Kirby said in a statement. Company officials would not comment further on how many jobs would be cut and where those reductions would be made.

Stewart & Stevenson Services, Inc. recently combined efforts with Detroit Diesel and Hollywood Marine to test a new four-cycle V12-2000 series commercial marine workboat engine package. Advantages of the more compact and durable 2000 series four-cycle engine, include reduced fuel and oil consumption and a noticeably quieter engine due to its triple-wall exhaust system. The new style triple-wall exhaust system also reduces engine room heat. Another advantage of the new series 2000 series engine is that the engine is emission certified, and will meet the future emission requirements of the year 2000 and beyond. "The new Detroit Diesel four-cycle engine is an environmentally friendly marine package…

Kirby Corp., the nation's largest tank barge operator, expects to save at least $10 million per year as a result of its acquisition of Hollywood Marine Inc. Kirby agreed to buy the inland tank barge company in July for about $325 million. "Cost savings, through the consolidation of the corporate headquarters, the elimination of duplicate administrative and operating staffs and expenses, and improved operating efficiencies in the marine transportation division, are estimated to be at least $10 million per year," Kirby said in a statement. Company officials would not comment further on how many jobs would be cut and where those reductions would be made.

Kirby Corporation -- which operates 774 inland tank barges, with 14 million barrels of capacity, and 229 towing vessels -- reported net earnings for the 2000 first quarter of $6.1 million. Net earnings for the 1999 first quarter were $4 million. The 2000 first quarter results include the acquisition in October 1999 of Hollywood Marine, Inc., accounted for under the purchase method of accounting. Movements in each of Kirby's inland tank barge markets were generally at, or above, expected levels. Refined products movements to the Midwest were unseasonably strong, the result of gasoline inventory anomalies in the Midwest. Fertilizer movements were also stronger than usual during the first quarter.