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CARBON TAX ON BUNKER FUEL
IMO is looking at a global levy (tax) on marine fuels. Do you think this is

a really good idea
an unfortunate necessity
a bad idea
a really bad idea

Marine Log

July 30, 2008

Former ACL execs plan $1.5 transportation venture

Former American Commercial Lines President and CEO Mark R. Holden has gotten the backing of a Bahrain based investment bank to build a diversified transportation holding company through a $1.0 - $1.5 billion acquisition strategy.

He is backed by several other former key members of the ACL management team that succeeded in the turnaround of a company in bankruptcy into a leading transportation company.

Today, Holden's West Lafayette, Indiana, headquarterd MRH Holdings LLC announced that it has partnered with Arcapita Bank B.S.C. to pursue "an acquisition strategy of transportation and transportation related businesses in the truck, rail and marine modes of transportation."

Arcapita --as in ARabCAPITAl-- says it has a paid-in capital of $225 million, of which approximately 81% is held by over 255 prominent individuals and institutions mostly from the Arabian Gulf region, and the remaining 19% is beneficially held by Arcapita's management.

"We are pleased to have Arcapita as our financial sponsor," said Mr. Holden, who is President and CEO of MRH Holdings LLC. "We have assembled a very strong and talented management team with extensive transportation experience and a long track record of creating value in the transportation space."

MRH Holding's SVP and Chief Financial Officer is Richard A. Mitchell Jr. who served as Senior Vice President of Corporate Strategy for ACL from 2005 to 2008.

"We believe the opportunity to provide solutions to shippers of freight continues to grow not only due to industry growth but also due to the inherent capacity constraints within the various modes of transportation, particularly in truck and rail," he said. "In addition, we believe that the current transportation industry fundamentals will facilitate success in pursuing our acquisition strategy."

Other former ACL executives on MRH Holdings' management team include Jerry R. Linzey, who is President of the Operations Division, who was previously ACL's Chief Operating Officer, responsible for leading the transportation and manufacturing segments of the company.

ACL's former Senior Director of Corporate Strategy and M&A, Anthony W. Lenhart, is Vice President of Finance and Corporate Development for MRH Holdings.


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