FOR IMMEDIATE RELEASE
Feb 7, 2017
Savage Accelerates Growth in Marine Market with Purchase of Settoon Towing’s Liquid Bulk Assets
ORANGE, Texas—Savage Inland Marine, LLC, a subsidiary of Savage Companies, has agreed to purchase marine assets from Settoon Towing, LLC’s (“Settoon”) Liquid Bulk division that include 35 towboats and 63 liquid tank barges with a total capacity of nearly 2 million barrels. The purchase does not include Settoon Towing’s Gathering & Storage and Logistics & Vessel Management business lines.
Savage Inland Marine will use the marine assets to transport a variety of liquid products on the Intracoastal and inland waterways, operating out of south Louisiana. As part of the agreement, Savage Inland Marine expects to hire approximately 250 current Settoon employees.
“These strategic assets will strengthen our ability to serve customers in the inland waterway. We look forward to welcoming the Settoon employees involved in this business segment, as Savage Team Members,” said Kirk Aubry, Savage President and Chief Executive Officer. “During a brief transitional period, we will be working closely with Settoon under an operating agreement that will ensure a seamless transition for the customers we serve.”
With existing operations in Orange County, Texas, Savage Inland Marine currently provides monitored barge fleeting, operates inland push boats and provides dock services on the Neches River. Savage Inland Marine is an American Waterways Operators member and AWO accredited Responsible Carrier, and is also a member of the Texas Waterway Operators Association, Gulf Intracoastal Canal Association, Mississippi Valley Trade & Transport Council and Oil Companies International Marine Forum.
“Marine transportation continues to be among the lowest-cost and safest methods for moving freight,” said Aubry. “With the country’s petrochemical renaissance and expansion of refineries and other facilities along the Intracoastal and inland waterways, we see a bright future for barge transportation in the Gulf Coast and beyond.”
In addition to its marine capabilities, Savage provides other supply chain and industrial services in the Gulf Coast region that include rail and refinery services; terminal operations; transloading; and truck transportation. Savage is committed to operating safely and responsibly and has received recognition from numerous customers and organizations for its safety performance and programs. In 2011, Savage was named one of “America’s Safest Companies” by EHS Today magazine.
Formed in 1968, Settoon Towing, LLC is a leading provider of liquid barge transportation and storage services throughout the Gulf Intracoastal Waterway, Mississippi River System and tributaries. In 2015, Settoon safely transported more than 70 million barrels of cargo and performed more than 13,000 transfers. For more information, visit www.settoontowing.com.
Founded in 1946, Savage is a privately owned supply-chain solutions and industrial services company based in Salt Lake City, Utah, with more than 3,200 team members in over 230 operating locations throughout North America and internationally. Savage supports a wide variety of customers in the production, manufacturing and distribution of energy resources and other essential commodities. The Company’s capabilities span rail, truck and marine transportation and logistics, terminal and facility operation and design, materials handling, and other environmental and industrial services. For more information, visit www.savageservices.com.
Jeff Hymas, Communications Director