Press Releases

The Andersons, Inc. 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.