(RTTNews.com) - Kirby Corp. ( KEX ) announced the signing of a definitive agreement to acquire the marine transportation fleet of Cenac Marine Services for approximately $244 million in cash. The purchase will be financed through additional borrowings.
Cenac's fleet consists of 63 30,000-barrel inland tank barges with approximately 1.9 million barrels of capacity, 34 inland towboats, and 2 offshore tugboats. Cenac moves petrochemicals, refined products, and black oil, including crude oil, residual fuels, feedstocks and lubricants on the lower Mississippi River, its tributaries, and Gulf Intracoastal Waterway for major oil companies and refineries.
Read the original article on RTTNews (http://www.rttnews.com/2974718/kirby-corp-to-purchase-marine-transportation-fleet-of-cenac-quick-facts.aspx)
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