Page 34: of Maritime Reporter Magazine (August 15, 1981)

Dravo Acquires Nilo

Barge Line From Olin

Acquisition of the operating- assets of Nilo Barge Line from the Olin Corp. by Dravo Corp.,

Pittsburgh, was announced re- cently by Robert Dickey III, Dra- vo's chairman and president.

Included in the purchase are 180 dry cargo barges, four tow- boats, a trans-Gulf service, and related supporting assets.

According to Mr. Dickey, the cash transaction represents a to- tal investment of more than $35 million. He added that a package involving lease financing for much of the investment is being ar- ranged with a major leasing firm.

Nilo's operations, Mr. Dickey said, will be closely coordinated with those of another Dravo sub- sidiary, Dravo Mechling Corp., which operates a fleet of 18 tow- boats and 575 barges on the Mis- sissippi-Ohio River system, and is one of the largest U.S. inland waterway carriers.

With headquarters in St. Louis,

Nilo was established by Olin in 1963. The company specializes in the movement of bulk commodi- ties which are exempt from Inter- state Commerce Commission reg- ulation.

More than one-third of the com- pany's 1980 revenues of $38 mil- ^^GEMS FLOW RANGER / Liquid Flow Meter

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Middletown, Ohio 45043. lion stemmed from the movement of grain.

Nilo operates on the Missis- sippi, Ohio and Illinois Rivers, as well as in the Gulf of Mexico.

Dravo's total revenue in 1980 amounted to $1.1 billion, of which about 7 percent resulted from barge operations. Its activities al- so include engineering, construc- tion, manufacturing and natural resource development.

Late in May, Dravo acquired the Ryan-Walsh group of compa- nies, one of the largest cargo han- dlers on the Gulf and South At- lantic, in an exchange of stock.

Ryan-Walsh's revenues last year amounted to about $65 million.

Halifax Industries Ltd.

Appoints Kenneth Wood

As President And CEO

Kenneth Wood

Kenneth Wood has been ap- pointed president and chief exec- utive officer of Halifax Industries

Limited of Nova Scotia. He suc- ceeds William J. Riley, who is leaving Halifax to become "more involved in offshore and other de- velopmental activities."

Mr. Wood, who has been a di- rector of Halifax Industries since the company was formed in 1978, assumed his new post in August after several years as general manager of fleet services for CN

Marine Inc.

Mr. Wood began his career with

Green, Silley & Wiers Limited, won a national scholarship, and was transferred to Newcastle-

Upon-Tyne, U.K., to study naval architecture and train in ship- building.

At 25, he served as chief naval architect with the Hoogley Dock- ing & Engineering Company,

Calcutta, India, before joining

George T. Davie & Sons of Lauzon,

Quebec, as naval architect and assistant general manager. He was later appointed general man- ager, chief executive officer and member of the board of directors of Davie Shipbuilding Ltd.

He designed and supervised the construction of the Marystown

Shipyard on the south coast of

Newfoundland and became chief executive officer of the facility before heading the state dock- yard of New South Wales in 1968.

In 1972, Mr. Wood returned to

Canada as managing director of

Canadian National's Newfound- 40 Write 355 on Reader Service Card Write 118 on Reader Service Card Maritime Reporter/Engineering News