MAUMEE, Ohio, Sept. 19 /PRNewswire-FirstCall/ -- The Andersons, Inc.
(Nasdaq: ANDE) announced today it has signed a Letter of Intent to purchase
a grain storage facility in Reading, Mich., and lease a facility in
Jonesville, Mich., from JBS United in Sheridan, Ind.
In addition, The Andersons also recently signed a long-term lease
agreement with Green Lion Bio-fuels LLC, Canton, Ill., for a grain storage
facility located in Canton.
"These facilities provide us with 3.6 million bushels of additional
storage capacity in Michigan and 4 million bushels of space in Illinois,"
said President and CEO Mike Anderson. "Continuing to expand our storage
capacity and service to customers is a part of our long-term strategy in
our grain operations."
The Reading facility which The Andersons is purchasing is located on a
short-line rail road and serves the Hillsdale County region in South
Central Michigan. The purchase and lease are expected to close as soon as
due diligence is complete.
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 in 11 U.S. states and Puerto Rico, plus rail equipment
leasing interests in Canada and Mexico. For more information, visit The
Andersons online at http://www.andersonsinc.com .
SOURCE The Andersons, Inc.
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Related links:
http://www.andersonsinc.com
CONTACT:
Gary L. Smith, VP, Finance & Treasurer, The
Andersons, Inc., +1-419-891-6417, gary_smith@andersonsinc.com
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