MAUMEE, Ohio, July 12 /PRNewswire-FirstCall/ -- The Andersons, Inc.
(Nasdaq: ANDE) today announced it has completed the acquisition of 1,600 rail
cars to be added to the assets of the Rail Group. The newly acquired rail
cars are currently in lease service with major customers. Other terms of the
purchase were not disclosed.
The additional 1,600 cars bring the total number of cars owned or managed
by the Rail Group to just under 18,800. The group also owns 114 locomotives.
According to Mike Anderson, President and CEO, this investment keeps the
company on pace with the growing demand for rail equipment. "Growing the
number and types of cars in our inventory allows us to meet a variety of
customer needs," he said.
The Andersons Rail Group is among the top 10 rail management companies
serving the North American market. In addition to providing leasing and
management services, the group also repairs/reconfigures cars to customer
specifications at its repair facilities in Ohio, South Carolina, and
Mississippi and operates a rail component and steel-fabrication business in
Ohio.
About The Andersons, Inc.
The Andersons, Inc. is diversified company with interests in the grain and
plant nutrient sectors of U.S. agriculture, as well as in railcar marketing,
industrial materials formulation, turf products production, and general
merchandise retailing. Founded in Maumee, Ohio, in 1947, the company
presently has operations in seven U.S. states plus rail equipment leasing
interests in Canada and Mexico. Total revenues in 2004 were $1.3 billion.
SOURCE The Andersons, Inc.
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Related links:
http://www.andersonsinc.com
CONTACT:
Gary Smith of The Andersons, Inc.,
+1-419-891-6417
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