American Steamship Subsidiary of Gatx Corporation Announced Its Employees Went On Strike following Labor Contract Expiration

American Steamship Company, a subsidiary of GATX Corporation

announced its employees who are members of the American Maritime Officers union went on strike following the expiration of the AMO labor contract on August 1, 2011. The AMO agreement covered the licensed crew members employed aboard ASC's vessels. David W. Foster, president of ASC, said, “ASC made every effort to engage in constructive negotiations with the AMO, but the AMO refused to participate in this process. As a result, the existing AMO contract expired and ASC has temporarily ceased operations. “Our goal has been to reach a fair and equitable agreement with our licensed crew members that allows ASC to become more competitive on the Great Lakes. While this remains our goal, we will enact our contingent operating plan and make every effort to serve our customers as effectively as possible.”