Kirby Expands & Consolidates

Last week, Kirby Corporation announced that it had acquired the coastwise tank barge fleet of Seaboats Inc. consisting of three 80,000 barrel tank barges and tug units for $42.3 million in cash. With an average age of five years, the barges, which are sisters to the four Kirby currently operates, and the tugs currently operate along the East Coast. Kirby financed the purchase by drawing down on its $250 million credit facility.

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