Hillside, NJ — Donjon Marine, Co., Inc., a provider of multi-faceted marine services including marine salvage, heavy lift, dredging and related emergency response services, has sold its 50% interest in Port Albany Ventures, LLC (PAV), a 28-acre mixed-use bulk material stevedoring operation located on the Hudson River IN Bethlehem, NY, to its Joint Venture Partner, Sims Metal Management Limited (ASX: SGM; NYSE: SMS), a metal and electronics recycling company.
The sale of the terminal interest will facilitate Donjonâ€™s further expansion into other marine markets. Donjon will retain DMC Marine, which owns and operates the tugs and barges previously owned and operated by PAV.
â€œThis is another step in Donjonâ€™s continuing efforts to expand its core businesses in order to provide better service to our present and future customers,â€ said Mr. J. Arnold, Witte, President, Donjon Marine Co., Inc.
For more information about Donjon Marine Co., Inc., visit www.donjon.com