The Andersons, Inc. Completes the Sale of Its Railcar Restore Trade to Cathcart Rail
- Advances the imaginative and prescient of being probably the most nimble and leading edge ag provide chain corporate in North The united states
- Aligns the corporate’s portfolio round its core verticals of grain and fertilizer
- Allows additional debt aid, will increase monetary flexibility for funding in long term strategic enlargement alternatives
MAUMEE, Ohio, July 8, 2022 /PRNewswire/ — The Andersons, Inc. (Nasdaq: ANDE) introduced that it has finished the sale of its railcar fix enterprise to Cathcart Rail.
“The sale of our railcar fix enterprise to Cathcart Rail finalizes our go out from the rail section as we introduced in August of remaining 12 months,” mentioned Pat Bowe, President and CEO of The Andersons. “Our strategic determination to go out our rail section lets in us to concentrate on and put money into our core agricultural verticals of grain and fertilizer.”
“The Andersons railcar fix community aligns completely with Cathcart Rail’s strategic function of providing a huge array of rail services and products throughout a countrywide footprint, and we’re excited to welcome The Andersons staff to the Cathcart circle of relatives,” mentioned Casey Cathcart, Chairman & Leader Govt Officer of Cathcart Rail. “With the addition of The Andersons railcar fix community, Cathcart Rail’s just about 1,000 staff throughout 110+ places make it the main railcar services and products corporate within the nation.”
“Our railcar fix staff are a few of the maximum professional and skilled within the business, and they’ve been crucial to our luck,” commented Joe McNeely, President, The Andersons Nutrient and Commercial enterprise. “We thank them for his or her contributions and dedication to The Andersons and our consumers all the way through the sale procedure. We’re excited for them and the expansion alternatives that Cathcart Rail will supply them.”
About The Andersons, Inc.
Based in 1947 in Maumee, Ohio, The Andersons, Inc. is a assorted corporate rooted in agriculture that conducts enterprise within the commodity vending, renewables, and plant nutrient sectors. Guided by way of its Remark of Rules, The Andersons is dedicated to offering odd carrier to its consumers, serving to its staff enhance, supporting its communities, and extending the worth of the corporate. For more info, please talk over with www.andersonsinc.com.
About Cathcart Rail
Cathcart Rail is a number one freight rail services and products and transportation corporate. The corporate recently operates the biggest railcar services and products community, encompassing 18 fix amenities and over 75 box services and products places, in addition to a rail services and products department that operates 3 shortline railroads and a dozen contract switching and transloading websites, amongst different services and products equivalent to railcar garage, monitor upkeep, and railcar portions. Cathcart Rail was once based in February 2016 by way of the daddy and son workforce of Thomas Cathcart and Casey Cathcart with 20 staff, and now employs just about 1,000 other folks throughout 110+ places in 33 states. For more info about Cathcart, talk over with www.cathcart-rail.com.
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SOURCE The Andersons, Inc.