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 Ind., Bethlehem, N.Y., 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 Donjon’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.
(www.donjon.com)