Twin City Barge To Acquire Transload And Transport, Inc.

Twin City Barge, Inc., South St. Paul, Minn., recently announced the signing of an agreement in principle for the acquisition of Transload and Transport, Inc., Morgan City, La. The acquisition will include several companies that are affiliated with Transload and Transport, Inc.

John W. Lambert, chairman and CEO of Twin City Barge said that the acquisition, expected to be closed no later than October 1, 1981, will be accomplished through exchanging 136,800 shares of Twin City Barge's common stock for the outstanding common stock of Transload and Transport, Inc. and its affiliated companies.

Transload and Transport, Inc., which is privately held, operates liquid tank barges on the Gulf Intracoastal Waterway system and the Lower Mississippi River.

Its principals, Wayne Musgrove and Kenneth Dunagin, will continue to direct Transload and Transport, Inc. operations as one of Twin City Barge's wholly owned subsidiaries.

"The acquisition of Transload and Transport, Inc.," Mr. Lambert said, "will give Twin City Barge a base of operations on the Lower Mississippi River, and will provide Twin City Barge with a significant diversification into the liquid tank barge business." Mr.

Lambert added that "the merger is a natural progression of events since the two companies have been involved in several joint ventures during the past few years." Twin City Barge is a diversified company engaged in river transportation, barge construction, and terminal operations. Its barging operations extend from the Twin Cities throughout the inland river system of the United States. In addition to barges, TCB also manufactures dredges and other types of marine equipment, and operates a major river terminal with a complete intermodal exchange between rail, truck and barge.

Maritime Reporter Magazine, page 8,  Aug 1981 Gulf of Mexico

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