GATX Unit Buys Vessels

Transportation

TSC and IRIS Staff

06/07/06 - 08:55 AM EDT

American Steamship, a unit of GATX (GMT Quote), said it acquired six vessels from Oglebay Norton Marine Services for $120 million.

Following the acquisition, American Steamship will operate a fleet of 18 vessels.

American Steamship has been operating on the Great Lakes since 1907 and was purchased by GATX in 1973. It transports a variety of dry bulk commodities including iron ore pellets, coal and limestone aggregates.

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