UMG Agrees to Sell United Barge Line to Ingram Barge Co.
United Maritime Group said it agreed to sell U.S. United Barge Line, a wholly owned barge transportation subsidiary of UMG, to Ingram Barge Company. The company does dry bulk transportation and logistics and operates U.S. United Bulk Terminal, the largest…
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coal and petroleum coke handling facility in the Gulf of Mexico, and U.S. United Ocean Services, which operates the largest Jones Act dry bulk ocean fleet by capacity. It provides barging for the domestic and export markets for coal, petroleum coke, grain and other dry bulk commodities, it said. The transaction is expected to close in the second quarter of 2012, subject to regulatory approvals and satisfaction of customary closing conditions.