Friday, August 28, 2015
Current Weather
Loading Current Weather....
Published: Wednesday, 5/26/2010

The Andersons acquires stake in Iowa railroad

The Andersons Inc., Maumee, said yesterday that it secured a minority investment

in the Iowa Northern Railway Co., which operates a 163-mile short-line railroad in Iowa that runs northwest to southeast from Manly to Cedar Rapids. It also operates a branch line from Waterloo to Oelwein.

Iowa Northern operates a fleet of 21 locomotives and 500 railcars, primarily serving

agribusiness customers. Officials of The Andersons said the investment had been a strategic priority of the company's rail group and gives the local company new business opportunities.

No price on the investment was disclosed.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.