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April 12, 2002
Naperville, Ill. – Tropical Shipping, a subsidiary of Nicor Inc., announced that it has signed a definitive agreement to acquire certain assets of Tecmarine Lines Inc.'s and TMX Logistics Inc.'s Eastern Caribbean and North Coast of South America service. These include some existing Tropical Shipping markets such as St. Maarten, Antigua and Trinidad, as well as, new Tropical Shipping markets in Guyana, Suriname and French Guiana. Tropical Shipping headquartered in Riviera Beach, Florida is a leading provider of quality refrigerated and dry container, and less-than-container-load service between North America and several ports in the Caribbean and Bahamas.
Tecmarine Lines Inc. has a long history of providing dependable weekly service to ports in the Caribbean and the North Coast of South America, as well as, an excellent reputation in the movement of cargo between ports within the Caribbean region. Upon concluding the purchase Tropical will take over this weekly service, offering customers an expanded all-water service from Canadian and Southern Florida ports to an expanded network of Caribbean and South American destinations.
"This acquisition will provide a tremendous benefit to Canadian, U.S. and Caribbean importers and exporters," said Rick Murrell, Tropical Shipping's president and chief executive officer. "It will also expand the number of ports served by Tropical Shipping, as well as, our interisland weekly service network between the ports of the Caribbean region."
Nicor (NYSE: GAS) is a holding company. Its principal businesses are Nicor Gas, one of the nation's largest gas distribution companies, and Tropical Shipping, a containerized shipping business serving the Caribbean region. Nicor also owns several energy-related businesses and has an interest in Nicor Energy, a retail energy marketing joint venture. For more information, visit the Nicor website at www.nicor.com. |
