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TEPPCO Enters Marine Transportation Business with Acquisition of Assets from Lou |
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Wednesday, 06 February 2008 10:30 |
HOUSTON, Feb 04, 2008 (BUSINESS WIRE) --
TEPPCO Partners, L.P. (NYSE:TPP) today announced that it has entered the marine transportation business for refined products, crude oil and lube products through the purchase of related assets from Houma, Louisiana-based Cenac Towing, Inc. and Cenac Offshore, LLC. TEPPCO, through its subsidiary, TEPPCO Marine Services, LLC, has acquired 42 push boats, 89 barges and the economic benefit of certain related commercial agreements for total consideration of approximately $500 million.
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