American Commercial Lines enters environmental business

May 16, 2007
Jeffersonville barge builder American Commercial Lines Inc. has bought a 30-percent stake in Summit Contracting Inc., an Evansville environmental firm with offices in Indianapolis and Russellville, Ark.

American Commercial Lines wants environmental expertise to pair with its recent expansion into shipping liquid chemicals, petroleum and ethanol.

The stake cost less than $10 million, and American Commercial Lines has the option to increase its ownership to 100 percent in two years.
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