Page 36: of Maritime Reporter Magazine (August 1977)

Twin City Barge

Entering Coal Business

Twin City Barge & Towing Co.,

St. Paul, Minn., has announced it is entering the coal business by acquiring United Coal Sales Co.,

Minneapolis, in a transaction val- ued at $3.75 million.

John W. Lambert, president and chairman of the board of

Twin City Barge, said the acquisi- tion will be accomplished through a combination of common stock, cash and subordinated notes. He added that 41,667 shares of Twin

City Barge common stock will be issued as part of the purchase arrangement.

Twin City Barge currently has 584,901 shares of common stock outstanding.

Mr. Lambert said that United

Coal Sales' revenues are expected to exceed $10.0 million for the 12 months ending December 31,1977.

He added that the firm's after-tax net income for the five months ended May 31, 1977, was approxi- mately $190,000 on sales of $4.1 million.

United Coal Sales, privately held, with offices in the Foshay

Tower in Minneapolis, is engaged in the development and market- ing of coal to industrial firms and electrical utilities. It also operates a coal loading dock on the Green

River at Rochester, Ky., which serves both United Coal and other coal companies.

John W. Lambert

President and chief executive officer of United Coal is Thomas

W. Talbert, who has devoted more than 50 years to nearly every phase of coal mining, transporta- tion and marketing. Mr. Talbert will continue to direct United

Coal's operations as a wholly owned subsidiary of Twin City

Barge. "Considering the world's loom- ing fuel crisis, we at Twin City

Barge are certain that coal will play a constantly increasing role in fulfilling our nation's energy needs," Mr. Lambert commented. "We therefore expect the acqui- sition of United Coal to comple- ment our barging and terminal operations and to increase earn- ings."

In another development, Mr.

Lambert announced that Twin

City Shipyard, Inc., a wholly owned subsidiary of Twin City

Barge, has received an order for the construction of 112 open hop- per barges. He said the $22-mil- lion order is subject to required approvals.

Twin City Barge is a diversified company manufacturing barges, towboats and other types of ma- rine equipment. It also maintains terminal storage facilities and op- erates as a carrier of dry and liquid bulk commodities. Its op- erations extend from the Twin

Cities and Chicago throughout the inland river system, of the United

States.

Brochure Issued On

Oil Pollution Control

Peterson Maritime Services,

Inc., a company involved in ship cleaning and in oil pollution con- trol and cleanup, has issued a brochure covering their capabili- ties in the latter field.

Peterson, with offices in New

Orleans, La., Mobile, Ala., and

Houston, Texas, is one of the leading companies engaged in the recovery of oil or chemical spills.

For a copy of the brochure, write to Jim Latiolais, Peterson

Maritime Services, Inc., 2431 De- catur Street, New Orleans, La. 70117.

Their heating systems are WAY-WOLFF

The Helen McAllister and the

Pilot No. 1 are both heated by

Way-Wolff ship heaters.

Way-Wolff Ship Heaters are available in four sizes for steam and hot water operation from 60,000 to 840,000 BTU's.

Way-Wolff Air Conditioning

Systems are also available.

More than 3,000 vessels through- out the world are equipped with

WAY-WOLFF Heating and

Cooling Units—many with the approval of government regulatory agencies.

For complete information, send us your specifications tor boats over 40 feet.

Moin^ ssocieties inc. 45-10 VERNON BOULEVARD, LONG ISLAND CITY, N.Y. 11101 212-361-9292

Fiberglass, Synthetics and Ceramics

CLOTH • TAPE • TUBING

YARN • ROPE • WICKING

Manufacturers of industrial textiles since 1942.

A complete line of standard products. Special constructions and finishes can be made available upon request. Call for prompt information.

AMATEX 1032 Stanbridge St., Box 228, Norristown, PA 19404

CORPORATION Tel: 215/227-6100 • Twx: 510-660-0184

New Construction Vessel Repair • LAUNCHWAYS FOR 100' WIDE UNITS • * 500' BERTH FOR 20' DRAFT VESSELS • • FOR SALE • 120' to 180' Stock Deck Barges 5353 TYSON AVE.

TELEPHONE: po. BOX 13625 (813) 837-8522 TAMPA, FLA. 33681 38 Maritime Reporter/Engineering News