November 29, 2022

Business Company

Reuters Business

The Andersons, Inc. Completes the Sale of Its Railcar Repair Business to Cathcart Rail

  • Innovations the vision of currently being the most nimble and ground breaking ag provide chain organization in North The usa
  • Aligns the firm’s portfolio all over its main verticals of grain and fertilizer
  • Allows more personal debt reduction, will increase monetary adaptability for financial investment in potential strategic progress opportunities

MAUMEE, Ohio, July 8, 2022 /PRNewswire/ — The Andersons, Inc. (Nasdaq: ANDE) introduced that it has done the sale of its railcar fix company to Cathcart Rail.

“The sale of our railcar mend organization to Cathcart Rail finalizes our exit from the rail segment as we declared in August of previous 12 months,” stated Pat Bowe, President and CEO of The Andersons. “Our strategic decision to exit our rail phase enables us to focus on and spend in our core agricultural verticals of grain and fertilizer.”

“The Andersons railcar repair service community aligns correctly with Cathcart Rail’s strategic target of featuring a wide array of rail products and services across a nationwide footprint, and we are enthusiastic to welcome The Andersons staff to the Cathcart spouse and children,” said Casey Cathcart, Chairman & Chief Executive Officer of Cathcart Rail. “With the addition of The Andersons railcar repair service community, Cathcart Rail’s just about 1,000 workforce throughout 110+ places make it the leading railcar expert services company in the nation.”

“Our railcar maintenance workforce are amongst the most competent and professional in the industry, and they have been important to our achievements,” commented Joe McNeely, President, The Andersons Nutrient and Industrial enterprise. “We thank them for their contributions and dedication to The Andersons and our prospects in the course of the sale course of action. We are fired up for them and the advancement possibilities that Cathcart Rail will provide them.”

About The Andersons, Inc.

Launched in 1947 in Maumee, Ohio, The Andersons, Inc. is a diversified firm rooted in agriculture that conducts enterprise in the commodity merchandising, renewables, and plant nutrient sectors. Guided by its Statement of Principles, The Andersons is fully commited to giving amazing provider to its clients, encouraging its personnel improve, supporting its communities, and increasing the benefit of the business. For much more data, you should check out www.andersonsinc.com.

About Cathcart Rail

Cathcart Rail is a primary freight rail expert services and transportation enterprise. The organization now operates the most significant railcar expert services network, encompassing 18 repair service facilities and over 75 area solutions spots, as nicely as a rail companies division that operates 3 shortline railroads and a dozen deal switching and transloading websites, amid other solutions these as railcar storage, keep track of upkeep, and railcar components. Cathcart Rail was founded in February 2016 by the father and son group of Thomas Cathcart and Casey Cathcart with 20 personnel, and now employs almost 1,000 persons throughout 110+ places in 33 states. For a lot more information and facts about Cathcart, stop by www.cathcart-rail.com.

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Resource The Andersons, Inc.