Kirby Corporation, based in Houston, Texas, is the largest U.S. transporter of bulk liquid products by tank barge, offering distribution services throughout the Mississippi River System and the Gulf Intracoastal Waterway. Kirby's tank barge fleet represents approximately 31% of the total number of U.S. inland tank barges, transporting petrochemicals, black oil products, refined petroleum products and agricultural chemicals. Through its diesel engine services segment, Kirby provides nationwide services and remanufactured and replacement parts for medium-speed and high-speed diesel engines and reductions gears, essential to day-to-day operations of marine companies, power generation facilities and railroads. Kirby offers its customers a single source for all their engine, gear and transmission services and parts requirements. For 2007, marine transportation provided 79% of Kirby's revenue and diesel engines services provided 21%.
Kirby's marine transportation fleet consists of 913 inland tank barges, with a liquid cargo capacity of 17.3 million barrels, and 258 towboats, providing safe, efficient and environmentally sound inland marine transportation of liquid cargoes. Kirby's fleet size, and extensive distribution and communication systems allow it to take advantage of economies-of-scale, thereby allowing for closer barge positioning to customers, more compatible prior cargoes, faster turnarounds, better horsepower utilization and greater backhaul opportunities. Kirby's well-established reputation for the highest-quality operations has attracted a blue chip customer base consisting of the U.S. largest petrochemical and refining companies. Kirby also owns and operates four ocean-going barge and tug units transporting dry-bulk commodities in U.S. coastwise trade.
Kirby's diesel engine services operation is a value added provider of service with a reputation for quality. Kirby has the largest service area of any medium-speed diesel service company, including the entire U.S. and parts of the Caribbean. During 2007, Kirby continued its expansion of its Gulf Coast region high-speed operation with the acquisition of two high-speed service providers, further advancing Kirby as a recognized leader and value-added provider of diesel engine services. Kirby employs over 300 factory-trained and authorized project engineers, mechanics and machinists, providing in-house service through 15 U.S. service and parts locations and worldwide in-field service to meet customers' immediate needs.
Kirby is financially sound, generates consistent earnings and cash flow, and is well positioned to take advantage of internal and external growth opportunities in its core marine transportation and diesel engine services operations.
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