The Andersons, Inc. and Lansing Grain Company to Form Limited Liability Corporation
Oct 21, 2002
The Andersons, Inc.
The new venture affords both organizations a platform from which to launch future growth initiatives. The Andersons expects to gain significant market knowledge and to expand its trading area outside the eastern corn belt, while the Lansing Grain Company anticipates enhancing its growth opportunities.
"The value of this relationship lies in merging the expertise in our two companies into one collective knowledge base," explained Mike Anderson, The Andersons' President and CEO. "The expanded market synergies both companies will gain, as well as the additional trading and arbitrage opportunities, are substantial."
"Our growth has always been focused on doing what's right for our customers," noted Bill Krueger, Chief Operating Officer of the Lansing Grain Company. "Our partnership with The Andersons fits well with this strategy."
About Lansing Grain Company
Lansing Grain Company, a privately owned firm, was formed in 1931. The current ownership group has grown Lansing into a national trading company. The company trades whole grains and feed ingredients into U.S. domestic markets. Current annual revenues are approximately $500 million. Corporate headquarters are in Okemos, Michigan and trading operations are directed from the Overland Park, Kansas office. Additional information is available online at www.lansinggrain.com .
About The Andersons, Inc.
The Andersons, Inc.
This release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially, including, without limitation, economic, weather and regulatory conditions, competition, and the risk factors set forth from time to time in the company's filings with the Securities and Exchange Commission.
SOURCE: The Andersons, Inc.
CONTACT: Gary Smith, Vice President Finance and Treasurer of The
Andersons, Inc., +1-419-891-6417, or
Mayhew, CEO and President of Lansing Grain Company, +1-800-248-6442, or