ACL to Purchase Assets from McKinney Companies
February 14, 2007
American Commercial Lines Inc. announced that its subsidiary American Commercial Lines LLC (ACL) has entered into an agreement to purchase twenty towboats and related equipment from the McKinney group of companies (McKinney) for $15 million in cash. The transaction will double the size of ACL’s Gulf-region operations. The Company anticipates hiring approximately 200 former McKinney employees, including certified captains and pilots.
Commenting on the agreement, Richard A. Mitchell, Senior Vice President Corporate Strategy, stated “The purchase of the McKinney assets will improve ACL’s vessel operations in the Gulf region. It is an important step in our strategy to enhance the services we offer to our customers.”
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