Friday, February 15, 2008

Carmeuse Group closes on deal to purchase O-N Minerals Erie Parent; Frequent Erie Visitor, WOLVERINE, to be reflagged

Carmeuse Lime and Stone, a Pittsburgh-based subsidiary of Belgium's Carmeuse Group, has completed purchase of the Oglebay Norton Company, the Cleveland-based parent of O-N Minerals Erie. Carmeuse announced the completion Wednesday, saying that they were planning on moving 50 Oglebay jobs from Cleveland to Pittsburgh. I have no word yet as to how this may affect the Erie operation.

WOLVERINE, a frequent Erie visitor over the years, and her sisters, EARL W. and DAVID Z., both of which are also frequent Erie visitors, have been purchased outright by Rand Logistics, whose Grand River Navigation subsidiary had been operating them under time charter from Wisconsin & Michigan Steamship Company, for $20 million dollars. Rand announced that WOLVERINE would be transferred to their Canadian subsidiary, Lower Lakes Towing, and be reflagged Canadian before the coming season. Therefore, Erie will likely see less and less of this vessel in the future.

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