Andersons inks deal to buy rail-car service
9/7/2013The 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.