Kirby is holding on to its distribution and services business.
The New York-listed company had spent the last year exploring a spin-off or sale of the segment, which represents roughly 40% of revenue and and is one of two business lines alongside its inland and coastal barge business.
“Following a thorough review of strategic alternatives, the Kirby board determined that the best way to enhance shareholder value is to continue to execute on the strategic plan for both the marine transportation and distribution and services businesses at this time,” said board chairman Joseph Pyne.
