The Andersons, Inc. Signs Agreement to Buy Danville Railcar Facility
Aug 1, 2018
MAUMEE, OHIO, August 1, 2018 – The Andersons, Inc. (Nasdaq: ANDE) announced today it has signed an agreement to purchase the Danville Railcar Facility, Danville, Illinois, from FreightCar America, Inc. (Nasdaq: RAIL). The company intends to turn the former freight car manufacturing plant into a full-service freight and tank railcar repair shop.
The 308,000 square-foot Danville facility is situated along the CSX Transportation network and can store up to 400 railcars. From the facility, The Andersons Rail Group will provide a wide range of services, including railcar repair, painting, blasting, cleaning, tank car certification and scrapping. Danville will be the Rail Group’s 21st shop in the United States, strategically located in the high-volume Midwest rail transportation corridor.
“We are excited to add the Danville facility to our repair network,” said Sam Anderson, Vice President of Operations, The Andersons Rail Group. “The purchase helps support our strategy of providing quality repairs and outstanding service to rail shippers, railroads, and railcar leasing companies across the U.S.”
The purchase is expected to close in August 2018. The Andersons expects the repair shop to be operational in the fourth quarter of 2018.
About The Andersons, Inc.
Founded in Maumee, Ohio, in 1947, The Andersons is a diversified company rooted in agriculture conducting business across North America in the grain, ethanol, plant nutrient and rail sectors. Through its Statement of Principles, The Andersons strives to provide extraordinary service to its customers, help its employees improve, support its communities and increase the value of the company.
The Andersons Rail Group provides a variety of services to the rail industry. It repairs, sells, manages and leases a fleet of nearly 23,000 various types of railcars and locomotives. The group has railcar repair facilities across the country. It also offers fleet management services to private railcar owners and operates a custom steel fabrication business.
For more information, visit www.andersonsinc.com.