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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.



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