HNG Corporation Has Acquired Alamo Barge Group Of Companies
Houston Natural Gas Corporation (HNG) has announced completion of the transaction to acquire the Alamo Barge group of companies. The operating name of the new HNG subsidiary is Alamo Barge Lines, Inc.
The previously announced acquisition agreement, which involves a tax-free exchange of HNG common stock, had been pending because of regulatory and other b u s i n e s s r e q u i r e m e n ts which now have been met.
The Alamo group, headquartered in Houston, includes Alamo Chemical Transportation Company, Alamo Barge Lines, East- West Towing Company, and Marine Barge Lines, Inc.
In addition to marine transportation on U.S. rivers and intracoastal waterways, HNG is involved in the transmission and sales of natural gas and natural gas liquids, exploration and production of oil and natural gas, production and marketing of carbon dioxide and other industrial and medical gases, coal mining, construction of barges and towboats, and marine services to the offshore petroleum industry.