THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Tuesday, September 19, 1995 TAG: 9509190156
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 21 lines
Continental Grain Co. said Monday that it has agreed to sell the assets of its marine-transportation unit to American Commercial Lines Inc., the tug and barge unit of Richmond-based CSX Corp. Terms of the transaction were not disclosed. American Commercial is buying 400 barges, nine tow boats and three drydocks from Continental Grain, a closely held farm-commodity handler and trader. American Commercial will sign a long-term contract to haul grain originated at Continental Grain's inland river elevators. American Commercial operates more than 100 tow boats and 3,000 barges. (Staff and wire reports) by CNB