AITX Acquires The Andersons, Inc. Railcar Leasing Unit for $0.55B, Cash
Written by William C. Vantuono, Editor-in-ChiefThe Andersons, Inc. has sold its railcar leasing business to American Industrial Transport, Inc. (AITX) for approximately $550 million in cash, and also intends to sell off its remaining railcar repair business, including 29 U.S. facilities, as part of a “strategic decision” to jettison all its railcar interests and focus on its agricultural businesses, which include commodity trading, ethanol and plant nutrient sectors.
![“Thanks to Secretary Pete [Buttigieg], USDOT, the Federal Railroad Administration and all our partners for making the S-Line passenger rail a reality!!” NCDOT Secretary Joey Hopkins said in a July 1 LinkedIn post. “Thanks to the hard work of our NCDOT team we broke ground on the first construction project in the Raleigh to Wake Forest segment, a $19M project to grade separate Durant Road 7 months after the grant announcement!!” (Photograph Courtesy of Joey Hopkins)](https://www.railwayage.com/wp-content/uploads/2024/07/slinelead-315x168.png)