According to an article in the Quad City Times (Iowa), after more than 50 years in the barge business, Alter Barge Line Inc. is selling its fleet of inland river towboats and barges to the Cargo Carriers business of Cargill Inc. and Marquette Transportation Co. LLC.
Under the agreement, Alter’s 387 river barges will be acquired by Cargill, headquartered in Wayzata, Minn., and its six towboats will be sold to Marquette Transportation, based in Paducah, Ky.
The sale also includes the assets of Alter’s Blackhawk Fleet in Buffalo, Iowa, and Azalea Fleet in New Orleans.
According to newspaper, the family-owned company had been approached many times over the years about selling the business.
To read the full article, click here.
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