Kirby Corporation (KEX)

[eFinanceMarkets]

Kirby buys $68M worth of inland tank barges, towboats

Kirby Corp. (NYSE:KEX) agrees to acquire inland marine assets from an undisclosed company for $68M in a deal it expects to be $0.01-$0.02/share accretive to 2017 earnings.

The purchase consists of nine specialty pressure tank barges, four 30K-barrel tank barges and three 1320 horsepower inland towboats.

KEX says the deal will boost its ability to meet customer transport demands for specialty cargos such as liquefied petroleum gas.