News
ConAgra Inc., the second largest U.S. food manufacturer, has 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. 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, the companies said. Greg Heckman, president and CEO, ConAgra Trade Group, said, "Our decision to sell the barge company is a strategic one.
Plan To Reduced Overhead Announced
BC Ferries' management is being restructured, resulting in a $5 million annual savings and a 20 percent reduction in non-fleet management and administration positions, President and CEO Bob Lingwood announced. Lingwood was joined in the announcement by Gordon Wilson, minister responsible for the corporation, and Michael Francis, chair of the corporation's board of directors. "This downsizing and re-organization is a substantial move forward in our efforts to get the corporation's financial and management house in order," said Lingwood. "The executive is serious about improving the corporation's performance for our customers and the taxpayers. -The corporation will be reducing its year 2000/01 overhead and administrative costs by $5 million.
BC Ferries Announces Reduction in Overhead Costs
BC Ferries' management is being restructured, resulting in a $5 million annual savings and a 20 percent reduction in non-fleet management and administration positions, President and CEO Bob Lingwood announced. Lingwood was joined in the announcement by Gordon Wilson, minister responsible for the corporation, and Michael Francis, chair of the corporation's board of directors. "This downsizing and re-organization is a substantial move forward in our efforts to get the corporation's financial and management house in order," said Lingwood. "The executive is serious about improving the corporation's performance for our customers and the taxpayers. · The corporation will be reducing its year 2000/01 overhead and administrative costs by $5 million.
Vessels Change on Route
A conventional ferry will replace one of the PacifiCats on the Horseshoe Bay-Departure Bay route starting February 1 to allow the fast ferries to be phased in more gradually, BC Ferries' board chair Michael Francis and president Bob Lingwood announced. The BC Ferries' board of directors has reviewed the fast ferry implementation program, taking into account concerns of reliability, customer issues and financial considerations. As a result, the corporation's board approved a plan to bring these vessels into service more gradually. The PacifiCats' operational issues have lessened over the past few weeks; however, it is important the vessels demonstrate more reliability before they resume full service.
BC Ferries Commissions Second PacifiCat
BC Ferries' second fast ferry, PacifiCat Discovery, was officially commissioned at a ceremony attended by Gordon Wilson, minister responsible for BC Ferries; Michael Francis, chair of BC Ferries' board of directors; and Bob Lingwood, president and CEO. The second PacifiCat delivers considerable cost savings and construction efficiencies compared with the first PacifiCat. Discovery was completed eight months faster and cost $10 million less than the first vessel. PacifiCat Discovery will begin scheduled service as the lead vessel out of Horseshoe Bay. At the same time, PacifiCat Explorer will enter dry dock for scheduled maintenance work. During the busy Christmas period, the two fast ferries and a conventional vessel will be in service on the Departure Bay-Horseshoe Bay route. On Jan.
BC Ferries Announces Schedule Changes
Effective Feb. 1, travellers using the Horseshoe Bay-Departure Bay route will be able to choose either a PacifiCat or a conventional vessel, BC Ferries' President and CEO Bob Lingwood said. The conventional vessel's return to the route will mean trucks, buses and longer recreational vehicles will once again be carried between Horseshoe Bay and Nanaimo. This service will be offered on a revised schedule for the rest of this calendar year during the gradual phase-in of the PacifiCats. In addition, assured loading tickets will again be accepted on this route effective March 15. Assured loading tickets on the Horseshoe Bay-Departure Bay route were discontinued at the end of June in anticipation of fast-ferry-only service and expanded reservationsā¦
