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The Andersons, Inc. (Nasdaq: ANDE) announced it has entered into an agreement with the Port of Oswego to lease a 780,000-bushel grain storage facility at the port’s Grain Export Center.
Positioned as the state of New York’s only port on Lake Ontario, the Port of Oswego is a deep-water port whose Grain Export Center offers both direct ship loading and rail integrations to load vessels for international markets.
“This location at the Port of Oswego allows New York crops to go directly into the international market, extending the U.S. supply chain,” said Zach Harding, profit center manager for The Andersons trade and processing business. “We are loading soybeans, grown by New York farmers, on vessels bound for Europe and Africa, without having to be transported out of state first. We are excited about the opportunities and look forward to continuing to expand our relationship with the Port of Oswego.”
The Grain Export Center was funded by the New York State Department of Transportation through a 15-million-dollar grant and has a new USDA on-site lab and probe constructed to meet all international grain export regulations.
“This announcement is yet another milestone toward making significant improvement to our existing system through increased capacity, efficiency, and flexibility,” said William Scriber, executive director for the Port of Oswego Authority. “As the only port in New York State on Lake Ontario and the first eastern port of call on the Great Lakes from the St. Lawrence
Seaway, we are located on the route to the interior of North America, as well as being accessible from any international port in the world. The Andersons is a strong player in the grain merchandising space, and we look forward to what they bring to the port.”
Expanding access to load vessels for international export supports The Andersons strategy to grow our core grain and fertilizer businesses, including commodity merchandising, and our vision to become the most nimble and innovative North American ag supply chain company.
# # # About The Andersons, Inc.
Founded in 1947 in Maumee, Ohio, The Andersons is a diversified company rooted in agriculture that conducts business in the commodity trading, ethanol, and plant nutrient sectors. Guided by its Statement of Principles, The Andersons strives to provide extraordinary service to its customers, help its employees improve, support its communities, and increase the value of the company. For more information, please visit www.andersonsinc.com.
