MAUMEE, Ohio, Dec. 31, 2010 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announced today it has completed the purchase of two grain storage facilities in Kearney and Riverdale, Neb., and assumed a third leased facility in Paxton, Neb., from B4Grain, Inc.
The three facilities will provide The Andersons with 3 million bushels of additional storage capacity in Nebraska, bringing the company's total capacity to about 107 million bushels.
"This purchase is another step westward for The Andersons," says Hal Reed, President of The Andersons Grain & Ethanol Group. "We see great opportunity to be positioned along the I-80 corridor in the high production area of Nebraska.
"Additionally," Reed said, "the direct ship program they have in place complements the business we are building at our existing facilities, and is a great opportunity for us to utilize our extensive array of risk management tools for producers in Nebraska."
B4 Grain was formed in 2001. The B4 Grain managers, who have more than 60 years of combined experience buying grain off the farm, will become part of The Andersons. The company buys and sells corn, soybeans and wheat. In 2007 the company developed marketing plans that can be added to a producer's contract.
About The Andersons, Inc.
The Andersons, Inc. is a diversified company with interests in the grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as in railcar leasing and repair, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now has operations across the United States, in Puerto Rico, and has rail equipment leasing interests in Canada and Mexico. For more information, visit The Andersons online at www.andersonsinc.com.
SOURCE The Andersons, Inc.