0000821026-16-000074.txt : 20160401 0000821026-16-000074.hdr.sgml : 20160401 20160401092651 ACCESSION NUMBER: 0000821026-16-000074 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20160401 ITEM INFORMATION: Other Events FILED AS OF DATE: 20160401 DATE AS OF CHANGE: 20160401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Andersons, Inc. CENTRAL INDEX KEY: 0000821026 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-FARM PRODUCT RAW MATERIALS [5150] IRS NUMBER: 341562374 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20557 FILM NUMBER: 161545245 BUSINESS ADDRESS: STREET 1: 480 W DUSSEL DR CITY: MAUMEE STATE: OH ZIP: 43537 BUSINESS PHONE: 4198935050 MAIL ADDRESS: STREET 1: 480 W DUSSEL DR CITY: MAUMEE STATE: OH ZIP: 43537 FORMER COMPANY: FORMER CONFORMED NAME: ANDERSONS INC DATE OF NAME CHANGE: 19960117 FORMER COMPANY: FORMER CONFORMED NAME: ANDERSONS MANAGEMENT CORP DATE OF NAME CHANGE: 19931119 8-K 1 iowaassetsale8-k.htm 8-K 8-K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
 
 
Date of Report (Date of Earliest Event Reported):
 
April 1, 2016
The Andersons, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
 
 
 
Ohio
000-20557
34-1562374
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
 
 
 
480 West Dussel Drive, Maumee, Ohio
 
43537
_________________________________
(Address of principal executive offices)
 
___________
(Zip Code)

Registrant’s telephone number, including area code:
 
419-893-5050
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))







Item 8.01 Other Events
On April 1, 2016, The Andersons, Inc. (the "Company") issued a press release announcing it has entered into an agreement to sell eight of its facilities in Iowa to MaxYield Cooperative of West Bend, Iowa. The Andersons acquired the eight grain and agronomy locations as a part of its 2012 acquisition from Green Plains Grain Company. The Tennessee assets acquired during that same transaction will remain a part of the Company. This transaction does not divest or otherwise involve the Company's ethanol facility or recently acquired Nutra-Flo facilities in Iowa. This transaction is subject to final board approvals by the buyer and seller and is expected to be completed in the current year.
The press release is attached as exhibit 99.1 to this filing.

 







SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
 
 
The Andersons, Inc.
 
 
 
 
 
 
 
April 1, 2016
 
By:
 
/s/ John Granato
 
 
 
 
 
 
 
 
 
Name: John Granato
 
 
 
 
Title: Chief Financial Officer
 
 
 
 
(Principal Financial Officer)







Exhibit Index
Exhibit No.
 
Description
 
 
 
99.1
 
News Release



EX-99.1 2 newsreleaseiowaassetsale.htm EXHIBIT 99.1 Exhibit


NEWS RELEASE
 
Contact:
James Burmeister
 
Date:
April 1, 2016
 
VP, Finance & Treasurer
 
 
 
 
Cell Phone: 419-250-6040
 
 
 
 
Office Phone: 419-891-5848
 
 
 
 
E-mail: jim_burmeister@andersonsinc.com
 
 
 


The Andersons Enters into Agreement to Sell Grain and Plant Nutrient Assets in Iowa

MAUMEE, OHIO, April 1, 2016 - The Andersons, Inc. (Nasdaq: ANDE) announces it has signed an agreement to sell eight of its facilities in Iowa to MaxYield Cooperative of West Bend, Iowa.

“We have referenced performance issues in our western grain assets during several recent investor calls. We anticipate this sale will improve our prospects and provide a pathway to profitability for this area of our business,” said CEO Pat Bowe. “We believe MaxYield will capably continue to serve the needs of the growers in this region and make good use of these assets in Iowa.”

The Andersons acquired the eight grain and agronomy locations as a part of its 2012 acquisition from Green Plains Grain Company. The Tennessee assets acquired during that same transaction will remain a part of The Andersons. This transaction does not divest or otherwise involve the Company’s ethanol facility or recently-acquired Nutra-Flo facilities in Iowa.

“We are excited about the opportunity to expand our presence in an area already served by MaxYield,” stated Howard Haas, MaxYield Cooperative board chairman. “MaxYield currently has facilities in 17 rural communities and has 1,700 members, many of which will have increased access to grain, agricultural inputs and services as a result of this transaction.”

About The Andersons, Inc.
Founded in Maumee, Ohio, in 1947, The Andersons is a diversified company rooted in agriculture conducting business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also has a consumer retailing presence. For more information, visit The Andersons online at www.andersonsinc.com.

About MaxYield Cooperative
MaxYield Cooperative is a member-owned, fully diversified agricultural cooperative founded in 1915 and is headquartered in West Bend, Iowa. The cooperative has 17 locations and three Cenex convenience stores in Iowa. MaxYield also provides grain origination and accounting services for two Iowa feed mills. For more information, visit MaxYield online at www.MaxYieldCoop.com.


- end -




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