MAUMEE,
Ohio, Oct. 24, 2024 /PRNewswire/ --
The Andersons, Inc. (Nasdaq: ANDE) announced it has signed a
long-term lease agreement for its operations at Port Houston and will be expanding the
facility to support the export of soybean meal among other bulk
grains. The upgrades will focus on increased reliability and
efficiency and include providing rail-based soybean meal unload
access directly at the export point.
"We are pleased to extend our relationship with Port Houston as it remains a strategic
location for The Andersons to support our customers in exporting to
high-demand markets," said Bill
Krueger, President and CEO of The Andersons. "As domestic
soybean crush rises to meet the higher demand for renewable fuels,
we are seeing new opportunities for the export of soybean meal, and
we are working closely with our railroad partners to streamline
delivery of product to the export point by installing capability to
unload unit trains of soybean meal directly at the Texas Gulf."
"Our long-term agreement with The Andersons, a globally
recognized Fortune 500 company with a 75-year-long history of
delivering exceptional products to markets around the world, marks
a significant milestone in Port
Houston's efforts to drive maritime economic growth for the
region," said Tom Heidt, Chief
Operating Officer of Port Houston.
"Utilizing the facilities to support the movement of a co-product
of the green revolution is an evolution in the use of the Houston
Ship Channel and will create new jobs locally and support jobs
across America's heartland."
With storage capacity of 6.3 million bushels, the Houston facility supports the export of more
than two million metric tons of grain annually and will now include
up to 22,000 metric tons for storing soybean meal for export.
Additional upgrades include a new conveyance system to seamlessly
transport goods from storage to the ship loaders, as well as a new
ship loading tower to increase the efficiency and speed of
loading.
About The Andersons, Inc.
The
Andersons, Inc., named in 2024 to Forbes list of America's
Most Successful Small Companies, Newsweek's list of
America's Most Responsible Companies, and one of The Americas'
Fastest Growing Companies by the Financial Times, is a diversified
company rooted in agriculture that conducts business in the
commodity merchandising, renewables, and nutrient
& industrial sectors. Guided by its Statement of Principles,
The Andersons is committed to providing extraordinary
service to its customers, helping its employees improve, supporting
its communities, and increasing the value of the company. For more
information, please visit www.andersonsinc.com.
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SOURCE The Andersons, Inc.