Maumee, Ohio — The Andersons Inc. told analysts Feb. 9 that a decision was made in the fourth quarter to suspend operations at its Fairmount, Ind., location. This resulted in charges of $1.4 million for various expenses related to the closure and the recording of an asset impairment, which factored into 2011 results (GM Feb. 13, p. 8). The facility, located about 55 miles northeast of Indianapolis, produced pelletized lime and gypsum for wholesale distribution, not retail. Production was suspended in December, but the company said there are still employees onsite serving customers until the inventory is depleted, through the spring season. At the same time, it is continuing to explore the options of rebuilding a more modern production system at Fairmount, or at another suitable greenfield location to continue to serve that market’s needs. The company said it is committed to the pelleted lime and gypsum business, and intends to arrive at a solution that will provide a long-term supply of superior pelletized products to the area.
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