Cincinnati-Based Midland Enterprises Leases $18 Million in Barges From Firstar Bank.Business Editors CINCINNATI--(BUSINESS WIRE)--Dec. 26, 2001 Cincinnati-based Midland Enterprises, which operates a fleet of barges, towboats and tugboats, has leased more than $18 million in new equipment from Firstar Bank during this past year. Midland worked with Firstar's Equipment Finance group to replace and expand its fleet of barges, which transport bulk commodities, a major portion of which is coal, principally on the Ohio and Mississippi Rivers Mississippi River River, central U.S. It rises at Lake Itasca in Minnesota and flows south, meeting its major tributaries, the Missouri and the Ohio rivers, about halfway along its journey to the Gulf of Mexico. and the Gulf Intracoastal Waterways Gulf Intracoastal Waterway System of inland waterways, including rivers and canals, along the U.S. coast of the Gulf of Mexico. It extends from Apalachee Bay, Fla., west to the Mexican border at Brownsville, Texas, a distance of more than 1,100 mi (1,770 km). . Bob Faillo, president of Midland Enterprises, said, "I've admired Firstar's persistence in getting our business. They've consistently called on us and provided a creative lease structure that enabled us to maintain an edge in a very competitive business environment." Wayne Shircliff, Firstar Bank's executive vice president and regional chairman, said, "Firstar is pleased to be partnering with such a fine company as Midland Enterprises and its subsidiary, the Ohio River Ohio River Major river, eastern central U.S. Formed by the confluence of the Allegheny and Monongahela rivers, it flows northwest out of Pennsylvania, and west and southwest to form the state boundaries of Ohio–West Virginia, Ohio-Kentucky, Indiana-Kentucky, and Company. Our recent merger with U.S. Bancorp  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. has greatly expanded our equipment finance and commercial leasing capabilities in this market." He added, "We continue to remain committed to providing top quality banking services in the greater Cincinnati marketplace." Firstar Equipment Finance will soon adopt the name of its parent company, U.S. Bancorp Equipment Finance, to reflect the merger of these companies this past February. Midland Enterprises Inc. is the second largest barge barge, large boat, generally flat-bottomed, used for transporting goods. Most barges on inland waterways are towed, but some river barges are self-propelled. There are also sailing barges. line in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Its fleet of 2,200 barges and 80 towboats operates throughout the inland river system from Pittsburgh to New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded . In 2000, the company's transportation subsidiaries moved almost 58 million tons of dry cargo including over 39 million tons of coal. Midland's largest subsidiary, The Ohio River Company, has been headquartered in Cincinnati since 1925 when the company began moving coal to Cincinnati Gas and Electric. Today, CG&E is still the company's largest customer. Midland's other transportation subsidiaries include Orgulf Transport Co., Orsouth Transport Co. and R&W Marine. Midland is owned by KeySpan Energy., the largest distributor of natural gas in the Northeast as well as the largest investor-owned electric generator in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of state. Firstar Bank is a subsidiary of U.S. Bancorp. With assets in excess of $168 billion, it is the 8th largest financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. holding company in the United States. The Minneapolis-based company operates 2,186 banking offices and 4,937 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp delivers quality customer service, articulated by its Five Star Service Guarantee, or it pays customers for their inconvenience. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank. Visit U.S. Bancorp on the web at usbank.com and Firstar Bank at firstar.com. |
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