Container-line board ouster sought: Atlantic Container Line could serve Philadelphia if a local waterfront entreprenuer's challenge suceeds

Article Abstract:

Thomas J. Holt Sr. has begun an attempt to replace the board of directors of the Atlantic Container Line (ACL) with international ship financing and shipping "heavyweights." Mr. Holt purchased 30% of ACL in 1996. The line has a fleet of five big vessels that operate on the trans-Atlantic route. The ships transport truck-sized container cargo and high-value roll-on/roll-off freight. If Mr. Holt's efforts to remove ACL's board of directors succeeds, the line might begin providing service to Philadelphia. ACL stockholders must approve of such a move. On two other occasions, Mr. Holt has attempted to acquire control of the company.

Deep Sea Freight Transportation, Containerships, Container ships, Atlantic Container Line

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Division of Kravco sold to Dranoff Properties

Article Abstract:

Dranoff Properties Inc. stated that it had acquired the Downtown Works retail division of the Kravco Simon Company. Carl E. Dranoff, chief executive officer of the firm stated that the move is part of a major expansion of the seven-year-old Philadelphia real estate firm that specializes in reuse of historic properties and mixed-use urban developments.

Acquisitions & mergers, Mergers, acquisitions and divestments, Company acquisition/merger

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Binswanger to receive Penn Award

Article Abstract:

The Philadelphia PA Chamber of Commerce plans to give the William Penn Award to John K. Binswanger, the real estate magnate. Binswanger is well known for his pleasant disposition, according to fellow Philadelphians. He also helped plan many city projects and advised industry leaders.

Officials and employees, Achievements and awards, Binswanger, John K., Philadelphia Chamber of Commerce, Chesterton Blumenauer Binswanger (Philadelphia, Pennslvania)

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