ARTCO Acquires Garvey Marine, Inc.
American River Transportation Company (ARTCO) has completed the acquisition of substantially all of the assets of Garvey Marine, Inc. Garvey currently has six marine harbor services, located in Lemont, Ottawa, Pekin, Channahon, Morris and Seneca, along the Illinois River system. ARTCO presently operates 12 harbor services on the inland waterway system.
“The operations of ARTCO and Garvey are complementary, and the acquisition will create synergies to better serve customers located along the Illinois River waterway system,” stated Royce Wilken, President-ARTCO.
ARTCO, located in Decatur, Illinois, is a wholly owned subsidiary of Archer Daniels Midland Company.
Archer Daniels Midland Company (ADM) is a world leader in agricultural processing. ADM is one of the world's largest processors of soybeans, corn, wheat and cocoa. ADM is also a leader in the production of soy meal and oil, ethanol, corn sweeteners and flour. In addition, ADM produces value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 25,000 employees, more than 250 processing plants and net sales for the fiscal year ended June 30, 2005 of $35.9 billion. Additional information can be found on ADM's Web site at http://www.adm.com.