November 19, 2009
Donjon sells interest in Port Albany terminal
Donjon Marine, Co., Inc., Hillside, N.J., has sold its 50 percent interest in Port Albany Ventures, LLC (PAV), a 28-acre mixed-use bulk material stevedoring operation located on the Hudson River IN Bethlehem, N.Y., to its joint venture partner, Sims Metal Management Limited (ASX: SGM; NYSE: SMS), a metal and electronics recycling company.
Donjon says the sale will facilitate its expansion into other marine markets.
Donjon will retain DMC Marine, which owns and operates the tugs and barges previously owned and operated by PAV.
"This is another step in Donjon's continuing efforts to expand its core businesses in order to provide better service to our present and future customers," said Mr. J. Arnold, Witte, President, Donjon Marine Co., Inc.