Andersons expands rail group; ethanol holdings

MAUMEE, Ohio – The Andersons is adding 1,180 rail cars to the assets of its rail group.
Terms of the purchase were not disclosed.
The company also announced March 30 it has finalized a $1 million investment in Iroquois Bio-Energy Company, LLC in Rensselaer, Ind.
The Andersons’ Grain Division is under contract to provide grain origination services to the IBC facility.
The 1,180-rail car purchase boosts the inventory owned or managed by the rail group to 15,980, which is an 8 percent increase from the year-end high of 14,800 cars.
The group also controls more than 115 locomotives.
In addition to providing leasing and management services, the group also repairs/reconfigures cars to customer specifications at its repair facilities in Ohio and South Carolina, and operates a steel-fabrication business in Ohio.