MAUMEE, OHIO, US – The Andersons, Inc. announced on July 8 that it has completed the sale of its railcar repair business to Cathcart Rail.
“The sale of our railcar repair business to Cathcart Rail finalizes our exit from the rail segment as we announced in August of last year,” said Pat Bowe, president and chief executive officer of The Andersons. “Our strategic decision to exit our rail segment allows us to focus on and invest in our core agricultural verticals of grain and fertilizer.”
Casey Cathcart, chairman and CEO of Cathcart Rail, said the acquisition of The Anderson’s railcar repair network aligns perfectly with its strategic goal of offering a broad array of rail services across a national footprint.
“With the addition of The Andersons railcar repair network, Cathcart Rail’s nearly 1,000 employees across 110-plus locations make it the leading railcar services company in the country,” Cathcart said.
Founded in 1947, The Andersons, Inc. is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and plant nutrient sectors.