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Barge maker lowers earnings estimate

June 12, 2007
Jeffersonville-based American Commercial Lines Inc. has lowered its earnings projection for the year to $1.45 to $1.65 a share, from the $1.75 to $1.95 it projected earlier in the year.

The company reduced its projection on continued weakness in the spot grain markets and lower-than-expected productivity in the manufacturing industry.

The marine transportation company also said it has approved a stock repurchase program of up to $200 million.

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