Tuesday, August 06, 2013

The Andersons acquiring railcar repair operation

Written by  Luther S. Miller, Senior Consulting Editor

The Andersons, Inc. announced Monday, Aug. 5, 2013, that it has entered into an agreement to acquire Mile Rail, LLC, a railcar repair and cleaning company headquartered in Kansas City, Mo.

"This acquisition enhances and complements The Andersons current railcar repair network by expanding our geographical footprint and business mix," says CEO Mike Anderson. "In addition, Mile Rail has an experienced and talented work force with a similar commitment to providing extraordinary customer service."

Mile Rail repairs and cleans a comprehensive range of non-hazardous, hazardous, and food-grade products and wastes from its headquarters in Kansas City and its three satellite locations in Nebraska, Kansas, and Indiana. The firm maintains a central Midwest footprint with its mobile units as well.

"The acquisition of Mile Rail will expand our capabilities to include tank car repair, for which there is a need for additional capacity in the industry, and is expected to increase our railcar repair revenue by 25," says Rasesh Shah, president of The Andersons' Rail Group. "In addition, with the growth of our fleet, as well as the geographic diversity of our customers, it was becoming strategically important for us to add a second, full-service facility centrally located in the U.S."

Glen Schwartz, Mile Rail's president, says, "Joining The Andersons represents a tremendous opportunity for both our clients and employees. I look forward to continued growth while continuing to exceed our customers' expectations."