TROPICAL SHIPPING TO BUY SELECTED TECMARINE ASSETS

TROPICAL SHIPPING TO BUY SELECTED TECMARINE ASSETS

   Tropical Shipping, an ocean carrier subsidiary of Nicor Inc., said Friday it has signed a definitive agreement to acquire certain assets of the eastern Caribbean and North Coast of South America service of Tecmarine Lines Inc. and TMX Logistics Inc.

   The markets affected include St. Maarten, Antigua, Trinidad, Guyana, Suriname and French Guiana. The last three are new to Tropical Shipping.

   Tecmarine Lines has provided weekly service to ports in these regions. After concluding the acquisition, Tropical will absorb existing ship charters providing this service. Tropical will also acquire agency services and warehousing.

   “Tecmarine Lines and TMX Logistics will continue as corporate entities in their own right and provide services in other markets,” said Mark Knox, a marketing spokesman for Nicor.

   The acquisition allows Tropical to offer an all-water service from Canadian and southern Florida ports to the Caribbean and South American destinations, said Rick Murrell, president and chief executive officer of Tropical Shipping.

   Tropical Shipping is based in Riviera Beach, Fla., Nicor Inc. has its headquarters in Naperville, Ill.