The Andersons, Inc.
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 www.andersonsinc.com .
First Call Analyst:
SOURCE: The Andersons, Inc.
CONTACT: Gary L. Smith, VP, Finance & Treasurer, The Andersons, Inc.,
Web site: http://www.andersonsinc.com/