Arcosa To Expand Ashland City, Tenn., Operation
Newly spun off from Trinity Industries, barge builder Arcosa Marine (formerly Trinity Marine Products) announced November 5 that it will invest more than $10 million to expand its existing barge-building operation in Ashland City, Tenn., creating 300 jobs during the next five years. Arcosa Marine currently employs about 240 people at its Ashland City operations.
Tennessee Gov. Bill Haslam, Department of Economic and Community Development Commissioner Bob Rolfe and Arcosa Marine officials made the announcement in Ashland.
“We are pleased to invest and expand our workforce and capabilities in Ashland City,” said David Johnson, senior plant manager for Arcosa Marine. “Our employees have a great work ethic and pride themselves on building the best barges in the United States.”
“I’m pleased to see Arcosa Marine expand in Cheatham County,” Haslam said. “This sizable investment is yet another sign that we’ve created an environment where businesses can thrive and create excellent job opportunities for Tennesseans. Because of investments like this from Arcosa Marine, Tennessee will lead in the creation of high-quality jobs.”
“Arcosa Marine’s expansion speaks to the skilled workforce and logistics advantages that Tennessee offers our businesses,” said Rolfe. “Transportation along Tennessee’s rivers remains a vital part of the supply chain for U.S. companies across the South and Midwest. It’s encouraging to see one of Tennessee’s existing businesses more than double its employment in Cheatham County, and I’d like to thank Arcosa Marine for its commitment to create quality jobs in Ashland City.”
“Arcosa Marine has called Cheatham County home for years and we are proud to share in its growth,” said Cheatham County Mayor Kerry McCarver. “This will allow more of our citizens to work and build a career in Cheatham County and not have to drive to Nashville or surrounding towns to make a living for their families. That’s a huge win for our citizens, Arcosa Marine and Cheatham County.”
Ashland City Mayor Rick Johnson and John Bradley, Tennessee Valley Authority senior vice president of economic development, also congratulated Arcosa Marine on its decision.
Arcosa began offering its stock on the New York Stock Exchange November 1. Arcosa President and CEO Antonio Carrillo said, “Arcosa is entering the public markets as a strong, independent company with established businesses serving the construction, energy, and transportation industries. A healthy, nearly debt-free balance sheet and strong operating cash flow provide us with significant resources to grow both organically and through disciplined acquisitions.”
The announcement comes on the heels of the company telling investors last month that it would reopen its Madisonville, La., shipyard due to a surge in orders for tank barges (WJ, October 22).