FOR IMMEDIATE RELEASE
April 6, 2017

Savage Completes Purchase of Settoon Towing’s Liquid Bulk Assets

SALT LAKE CITY—Effective April 4, 2017, Savage Inland Marine, LLC, a subsidiary of Savage Companies, has purchased the Liquid Bulk division assets of Settoon Towing LLC which includes 35 towboats and 63 liquid tank barges with a total capacity of nearly 2 million barrels. The purchase does not include Settoon’s Gathering & Storage business line. The acquisition provides Savage with a scalable platform for building its marine business going forward.

With the addition of these vessels, Savage’s marine capabilities include the transport of a variety of liquid products on the Intracoastal and inland waterways, as well as barge fleeting, towing and dock services on the U.S. Gulf Coast. Mike Ellis, Settoon Towing’s former president, had previously joined Savage to lead its Marine Solutions Group, and more than 230 former Settoon employees have become Savage Team Members. Operations management will continue to be based out of a newly built, state-of-the-art operations and training center in Gibson, LA, and at offices in Baton Rouge, LA and Bridge City, TX.

“Acquiring these strategic assets significantly accelerates our growth in the marine market and adds breadth and depth to the supply chain solutions we offer,” said Kirk Aubry, Savage President and Chief Executive Officer. “We’re pleased to welcome our new Team Members from Settoon and excited to have Mike Ellis and his team on board to lead our marine business. Their operational experience, industry expertise and customer relationships will help ensure a seamless transition.”

“I’m excited about the opportunities Savage provides for our team and for our customers who will all benefit from the marine and logistics services we offer,” said Mike Ellis, Savage Executive Vice President and Group Leader. “With growth in the petrochemical industry and expansion of refineries along the Intracoastal and inland waterways, having a transportation and logistics provider like Savage brings great value for customers that depend on safe and reliable service for their continued success.”

Savage Inland Marine is an American Waterways Operators member and AWO accredited Responsible Carrier, and is a member of the Louisiana Association of Waterways and Shipyards, Texas Waterway Operators Association, Gulf Intracoastal Canal Association, Mississippi Valley Trade & Transport Council and Oil Companies International Marine Forum.

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.

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About Savage
Founded in 1946, Savage is a privately owned supply-chain solutions and industrial services company based in Salt Lake City, Utah, with more than 3,500 team members in over 240 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.

Contact:
Jeff Hymas, Communications Director
801-944-6584; jeffhymas@savageservices.com