The Andersons makes investment in Iowa Northern

The Andersons, Inc., and the Iowa Northern Railway Company said that The Andersons, Inc., recently made a significant minority investment in the railway company and its subsidiaries. The investment is expected to be accretive to earnings this year.

IANR operates a 163-mile
Class III (shortline) railroad that runs diagonally through Iowa from northwest
to southeast from Manly to Cedar Rapids and a branch line from Waterloo to
Oelwein. With a fleet of 21 locomotives and 500 railcars, IANR primarily serves
agribusiness customers. It is also involved in the development of logistics
terminals designed to aid the transloading of various products including
ethanol and wind turbine components.

"Investing in a
shortline railroad has been a strategic priority for the Rail Group for some
time and we are delighted with the fit between The Andersons and Iowa
Northern," said Rasesh Shah, President of The Andersons Rail Group.
"Our two companies have similar cultures and a genuine commitment to serve
customers. Additionally, Iowa Northern’s primary customers are in industries we
know well such as grain, fertilizer and ethanol."