The Andersons Inc. has completed a deal to buy Mile Rail LLC, which repairs and cleans rail cars.
The deal was originally announced last month. Financial terms were not disclosed. “The addition of Mile Rail complements our existing railcar repair network and expands our geographical footprint,” said Rasesh Shah, president of The Andersons’ Rail Group.
Rail Car has facilities at its Kansas City headquarters and at three satellites in Nebraska, Kansas, and Indiana. The Andersons already had 14 rail-car repair facilities in Ohio, California, Utah, Iowa, Alabama, Mississippi, South Carolina, and New York. Andersons’ stock closed at $64.83 on Friday, down $3.04, or 4.52 percent.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.