CLEVELAND, Jan. 18 /PRNewswire-FirstCall/ -- Oglebay Norton Company (BULLETIN BOARD: OGBY) announced that its wholly owned subsidiary, Oglebay Norton Marine Services Company LLC., has executed 30-day exclusivity agreements with two undisclosed parties related to acquisition of its fleet of self-unloading Great Lakes freight vessels. Exclusivity was granted in order to allow the bidders to conduct customary due diligence and permit the parties to negotiate and execute definitive purchase agreements and long-term contracts of affreightment for the carriage of Company stone. Closing is anticipated prior to the start of the 2006 shipping season in March. The transactions are subject to approval by the Company's lenders, board of directors and certain regulators.
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Oglebay Norton Company, a Cleveland, Ohio-based company with a 150-year tradition of service, provides essential minerals and aggregates to a broad range of markets, from building materials and environmental remediation to the energy and metallurgical industries. For more information, see http://www.oglebaynorton.com/
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