SOURCE: American Commercial Lines Inc.

American Commercial Lines Inc.

August 18, 2009 17:47 ET

Jeffboat Receives Grant Funding Through the Recovery and Reinvestment Act

JEFFERSONVILLE, IN--(Marketwire - August 18, 2009) - American Commercial Lines Inc. (NASDAQ: ACLI) ("ACL" or the "Company") announced today that its manufacturing division Jeffboat has been awarded approximately $2.3 million in grant funds through the Recovery and Reinvestment Act (ARRA) of 2009 for slipway repair and aerial lifts.

The Department of Transportation announced 70 grants totaling $98 million in ARRA funds that will be used to improve small shipyards throughout the United States. The funds, awarded through the Maritime Administration's Assistance to Small Shipyards program, will help create and preserve jobs, provide valuable employment training and make much needed improvements to shipyards across the country.

The Small Shipyards Grant program provides up to 75 percent in ARRA funds for a project and requires the remainder be matched by the shipyard.

"We are pleased to be receiving the ARRA grant funding, which will allow us to improve our manufacturing efficiencies," Mike Ryan, President and CEO of ACL, stated. "Ultimately, this investment will help sustain the rich tradition of Jeffboat shipbuilding within our community."

American Commercial Lines Inc., headquartered in Jeffersonville, Indiana, is an integrated marine transportation and service company operating in the United States Jones Act trades, with approximately $1.2 billion in revenues and approximately 3,400 employees as of December 31, 2008. For more information about American Commercial Lines Inc. visit www.aclines.com.

Contact Information

  • Contact:
    David T. Parker
    Vice President, Investor Relations
    & Corp. Communications
    (800) 842-5491