MAUMEE, Ohio, Nov. 3 /PRNewswire-FirstCall/ -- The Andersons, Inc.
(Nasdaq: ANDE) today announced that its Toledo ship-loading facility damaged
earlier this year will be completely restored. The facility, leased from
Cargill, Incorporated, incurred heavy damage from two explosions and
subsequent fire that occurred on July 1.
Plans are for all former operational capabilities of the 6.0 million
bushel elevator to be returned to the facility, along with safety, efficiency,
and service enhancements added or upgraded as practical or required. A
general contractor has been named and pre-work has occurred. The Company
expects that full restoration could be completed by late September, 2006.
Jim McKinstray, General Manager of The Andersons Maumee Grain Division,
said, "The decision to restore the facility was a joint effort between The
Andersons and Cargill and was a result of considerable review. This is good
news for the Company, our customers, and the Port of Toledo."
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.
SOURCE The Andersons, Inc.
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Related links:
http://www.andersonsinc.com
CONTACT:
Gary Smith, VP Finance & Treasurer of The
Andersons, Inc., +1-419-891-6417, or gary_smith@andersonsinc.com
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