Business Services Industry
Two Barge Lines Plan to Merge in $230 Million Deal.
Knight Ridder/Tribune Business News, January, 2002
By Joe Walker, The Paducah Sun, Ky. Knight Ridder/Tribune Business News
Jan. 25--River industry observers say the community will benefit from Ingram Industries' $230 million purchase of Midland Enterprises, forming the nation's second-largest barge company with towing headquarters in Paducah.
"They are both stellar companies and really fit well together. It's really a marriage made in heaven," said civic leader Ken Wheeler, a retired Midland executive. "It's a real plus for Paducah."
The deal, announced Thursday after several months of anticipation within the industry, is expected to close by spring. It combines the second- and third-leading barge lines in Midland and Ingram, respectively, forming a company second only to American...
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