The Andersons Acquires Two Manufacturing Units, Adds Filtration Systems to Product Mix

PRNewswire-FirstCall
MAUMEE, Ohio
Jul 29, 2005

The Andersons, Inc. today announced it has completed the purchase of two business units from Master Chemical Corporation, Perrysburg, Ohio. Hydroflow Systems, LLC and Systems Equipment Division (SED) will become part of The Andersons' Rail Group. Terms of the agreement were not disclosed.

Master Chemical develops and manufactures cutting and grinding fluids, metal part cleaners, washing compounds, and corrosion inhibitors. Hydroflow Filtration Systems manufactures a full line of fluid filtration systems for the worldwide metalworking market and SED produces a complete line of fluid recycling units for the same market. Both Hydroflow and SED will become part of the sales and engineering organization within the Rail Group's fabrication business unit.

The following individuals of the fabrication unit will report to Rasesh Shah, President of the Rail Group:

   - Greg Booth, General Manager of the fabrication business unit, is a
     15-year employee of The Andersons and will continue to have operational
     oversight of this unit and its quality workmanship and value for
     customers.
   - Jim Lupien, General Manager of Hydroflow Filtration Systems, was one of
     the founders of Hydroflow, Inc.
   - David Semersky, General Manager of Systems Equipment Division, was
     formerly president of SED.
   - Greg Sorge, a 17-year employee of Hydroflow, will report to Lupien as
     Director of Sales.

Shah said, "The many skilled and experienced employees of Hydroflow and SED will continue work from the offices and facilities in The Andersons' Maumee complex."

The Andersons has been providing manufacturing services to Hydroflow through their fabrication business unit since 1992. The acquisition of Hydroflow Systems allows The Andersons to fully benefit from that successful relationship.

According to Joe Wright, Master Chemical Corporation's CEO, "This allows MCC to focus on our core business with a reliable, quality supplier of the equipment systems which support effective fluid management."

Mike Anderson, President and CEO of The Andersons, Inc. said, "The acquisition expands the company's product offering while capitalizing on the manufacturing expertise of the Rail Group's fabrication business unit. This purchase provides a great growth opportunity for the Group."

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 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. Visit The Andersons online at www.andersonsinc.com.

SOURCE: The Andersons, Inc.

CONTACT: Gary Smith, VP Finance & Treasurer of The Andersons, Inc.,
+1-419-891-6417


print email rss
Grain
Plant Nutrient
Ethanol
Rail