Governor Bobby Jindal joined Settoon Towing President and CEO Russ Settoon today to christen the M/V Fred A. Settoon towboat and mark the creation of 135 new permanent jobs—with an average salary of $81,000, plus benefits—during a three-year capital expansion totaling $155 million. The new vessel, built at a cost of more than $4 million and measuring nearly 100 feet, joins the company’s fleet of more than 50 vessels and 110 barges. The company has completed 70% of the $155 million expansion that, by 2012, will see the commissioning of nearly 50 more boats and barges. Headquartered in Pierre Part, Settoon Towing transports petrochemical products along the Gulf Intracoastal Waterway and the Mississippi, Ohio and Tennessee rivers. Its operations headquarters is in Houma. Of the 135 jobs created by the expansion, 94 are held by Louisiana residents.
Towing company christens vessel, talks $155M expansion
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