Andersons to add grain storage in Michigan, Illinois
September 19, 2008
by FoodBusinessNews.net Staff
MAUMEE, OHIO — The Andersons, Inc. announced on Sept. 19 it has signed a letter of intent to purchase a grain storage facility in Reading, Mich., and lease a facility in Jonesville, Mich., from Sheridan, Ind.-based JBS United.
In addition, The Andersons also recently signed a long-term lease agreement with Green Lion Bio-fuels LLC, Canton, Ill., for a grain storage facility located in Canton.
"These facilities provide us with 3.6 million bushels of additional storage capacity in Michigan and 4 million bushels of space in Illinois," said Mike Anderson, president and chief executive officer. "Continuing to expand our storage capacity and service to customers is a part of our long-term strategy in our grain operations."
The Reading facility that The Andersons is purchasing is located on a short-line railroad and serves the Hillsdale County region in South Central Michigan. The purchase and lease are expected to close as soon as due diligence is complete.