The Andersons Finalizes Purchase of Railcar Repair Network
MAUMEE, Ohio, Sept. 4, 2013 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announces today it has completed the purchase of Mile Rail, LLC, a railcar repair and cleaning provider.
"The addition of Mile Rail complements our existing railcar repair network and expands our geographical footprint," says Rasesh Shah, president of The Andersons' Rail Group. "Additionally, the skilled and customer-service oriented 52-member workforce enables us to expand our capabilities to repair and clean virtually all types of railcars. We are looking forward to this new opportunity with this new team in these new communities and providing service to new customers."
The purchase includes a primary location in Kansas City, Missouri, and two satellite locations in Nebraska and Indiana, as well as mobile units in the central Midwest.
The Andersons expects the transaction to be accretive in the full year 2014.
About The Andersons, Inc.
The Andersons, Inc. is a diversified company rooted in agriculture. Founded in Maumee, Ohio, in 1947, the company conducts business across North America in the grain, ethanol, and plant nutrient sectors, railcar leasing, turf and cob products, and consumer retailing. For more information, visit The Andersons online at www.andersonsinc.com.
SOURCE The Andersons, Inc.