The Andersons Acquires Two Manufacturing Units, Adds Filtration Systems to Product Mix

Search Blogs that Mention this News Release
Click this link to view linked Bookmarking Services
Click this link to view linked Blogging Services
The Andersons Acquires Two Manufacturing Units, Adds Filtration Systems to Product Mix
    MAUMEE, Ohio, July 29 /PRNewswire-FirstCall/ -- The Andersons, Inc.
(Nasdaq: ANDE) today announced it has completed the purchase of two business
units from Master Chemical Corporation, Perrysburg, Ohio.  Hydroflow Systems,
LLC and Systems Equipment Division (SED) will become part of The Andersons'
Rail Group.  Terms of the agreement were not disclosed.
    Master Chemical develops and manufactures cutting and grinding fluids,
metal part cleaners, washing compounds, and corrosion inhibitors.  Hydroflow
Filtration Systems manufactures a full line of fluid filtration systems for
the worldwide metalworking market and SED produces a complete line of fluid
recycling units for the same market.  Both Hydroflow and SED will become part
of the sales and engineering organization within the Rail Group's fabrication
business unit.
    The following individuals of the fabrication unit will report to Rasesh
Shah, President of the Rail Group:
     - Greg Booth, General Manager of the fabrication business unit, is a
       15-year employee of The Andersons and will continue to have operational
       oversight of this unit and its quality workmanship and value for
       customers.
     - Jim Lupien, General Manager of Hydroflow Filtration Systems, was one of
       the founders of Hydroflow, Inc.
     - David Semersky, General Manager of Systems Equipment Division, was
       formerly president of SED.
     - Greg Sorge, a 17-year employee of Hydroflow, will report to Lupien as
       Director of Sales.

    Shah said, "The many skilled and experienced employees of Hydroflow and
SED will continue work from the offices and facilities in The Andersons'
Maumee complex."
    The Andersons has been providing manufacturing services to Hydroflow
through their fabrication business unit since 1992. The acquisition of
Hydroflow Systems allows The Andersons to fully benefit from that successful
relationship.
    According to Joe Wright, Master Chemical Corporation's CEO, "This allows
MCC to focus on our core business with a reliable, quality supplier of the
equipment systems which support effective fluid management."
    Mike Anderson, President and CEO of The Andersons, Inc. said, "The
acquisition expands the company's product offering while capitalizing on the
manufacturing expertise of the Rail Group's fabrication business unit.  This
purchase provides a great growth opportunity for the Group."
    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 a 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.
Visit The Andersons online at http://www.andersonsinc.com.
SOURCE The Andersons, Inc.
http://www.andersonsinc.com
CONTACT:
Gary Smith, VP Finance & Treasurer of The
Andersons, Inc., +1-419-891-6417