Cleveland-Based Shipping Firm May Have a Buyer.

From: Detroit Free Press (Detroit, Michigan) (viaKnight-Ridder/Tribune Business News) | Date: March 6, 2004 | Copyright information

Byline: Jennifer Bott

Mar. 6--One of the Great Lakes' oldest shipping companies might have a lifesaver.

Industry insiders say American Steamship Co. has expressed interest in buying Oglebay Norton Co.'s 12-ship fleet.

Oglebay, a miner and shipper of industrial minerals, filed for Chapter 11 bankruptcy protection Feb. 23 after having trouble repaying loans. The Cleveland-based company, which employs 1,700 people in 13 states, says it plans to contin...

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