World Grain - March 2015 - 19

NEWSREVIEW

The Andersons sees record results for year
MAUMEE, OHIO, U.S. - The Andersons, Inc. announced on Feb.
10 record net income for 2014 of $109.7 million, or $3.84 per diluted
share, on revenues of $4.5 billion.
Last year, earnings were $89.9 million or $3.18 per diluted share
on revenues of $5.6 billion. Full-year adjusted earnings were $99.1
million or $3.46 per diluted share when the Lansing Trade Group gain
was excluded.
The Ethanol Group delivered full-year operating income of $92.3
million, far exceeding its prior best year of $50.6 million in 2013.

The company earned $25.9 million in the fourth quarter of 2014,
or 89¢ per diluted share, on revenues of $1.3 billion. In the same
three-month period of 2013, the company reported net income of
$30.7 million, or $1.08 per diluted share, on revenues of $1.6 billion.
Revenues were down this year within the company's agricultural
businesses due to lower commodity prices. The majority of the decrease was within the Grain Group where the average price per bushel sold decreased by 28%, which more than offset the slight increase
in bushels sold.

The Andersons Grain Group president to retire
MAUMEE, OHIO, U.S. - The Andersons, Inc. announced on
Feb. 9 that Grain Group President Dennis J. (Denny) Addis has
announced his plans to retire in May. At that time, Neill C. McKinstray, president of the Ethanol Group, will assume leadership
over both groups.
"Denny has a stellar 43-year record with The Andersons and during his tenure has exhibited faithful service and exceptional leadermany of the largest acquisitions in the company's history and during
his three years in Grain guided his team through a severe drought and
several acquisitions. His greatest impact to the company was cham-

pioning a new safety philosophy that set a new direction and led to

and loading trucks as a part-time employee while a student at the University of Toledo. He spent all but three of his 43 years in the Plant Nutrient Group, ultimately serving as the group's president for 11 years.
He has served as the president of the Grain Group since 2012.
McKinstray is a 39-year veteran with The Andersons, including
more than 30 years working at increasing levels of responsibility in
the Grain Group. In 2011, he was named as president of the newlyformed Ethanol Group, which he has led with great success.

Marbour expands rice business with MRRM acquisition
MONTREAL, QUEBEC, CANADA - MRRM Inc. and Marbour
agreement under which Marbour will acquire 100% of MRRM for a
total consideration of C$11 million.
The all-cash consideration is C$4.45 per share, which represents a
58% premium over MRRM's closing price as of Feb. 9, and a 56%
premium over the volume-weighted average trading price of the
MRRM shares for the past 20 trading days. The transaction has been

unanimously approved by the board of directors of MRRM and is
expected to close in the second quarter of 2015.
MRRM is the parent company of MRRM Inc., which operates under the name of Les Aliments Dainty Foods, Robert Reford Agency
Inc. and Dainty Foods International Inc., all wholly-owned subsidiaries. Les Aliments Dainty Foods has been milling and processing
rice for over a century.
Marbour is a privately-held company based in Marseille, France.

For more information, see Page 106.

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World Grain - March 2015

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