SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OF 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) January 12, 1999
THE ANDERSONS, INC.
(Exact name of registrant as specified in its charter)
OHIO 34-1562374
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
480 W. Dussel Drive, Maumee, Ohio 43537
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (419) 893-5050
Item 5:
The following press release was issued on January 12, 1999:
The Andersons, Inc.
480 W. Dussel Drive
Maumee, Ohio 43537
AT THE COMPANY: AT THE FINANCIAL RELATIONS BOARD:
Gary Smith Marilyn Windsor Lisa Fortuna
419-891-6417 312-640-6692 312-640-6779
FOR IMMEDIATE RELEASE
JANUARY 12, 1999
THE ANDERSONS, INC. ANNOUNCES SETTLEMENT
MAUMEE, Ohio, January 12, 1999-The Andersons, Inc. (Nasdaq: ANDE) today
announced a settlement with the Commodity Futures Trading Commission (CFTC)
related to its review of The Andersons' grain contracting activity.
Under the settlement, The Andersons neither admitted nor denied the CFTC's
findings. At issue were two types of grain contracts that have not been
offered since late in 1995.
According to Mike Anderson, president and chief executive officer of The
Andersons, "The settlement was a business decision in which the time, money
and distraction that would have been invested in defending our position had to
be weighed against a settlement in which we neither confirm nor deny the
CFTC's findings. We agreed to a settlement of $200,000. The payment will not
have a material effect on our financial condition."
Anderson added, "It is good to have this review behind us. The settlement
does not affect our current grain marketing program. We look forward to
providing continued leadership in grain marketing services to our customers as
well as providing additional services to the agricultural community."
The Andersons is a respected leader in grain merchandising. Building upon its
basic business, the company has diversified into other agribusiness
operations, several processing and manufacturing businesses, and general
merchandise retailing. The company was founded in 1947.
This release contains forward-looking statements. These statements involve
risks and uncertainties that could cause actual results to differ materially,
including, without limitation, risk factors set forth from time to time in the
company's filings with the Securities and Exchange Commission.
For further information regarding The Andersons free of charge via fax dial
1-800-PRO-INFO and enter company code "ANDE."
The Andersons, Inc. can be reached on the Internet at www.andersonsinc.com
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.
Date: January 14, 1999 By: /s/Michael J. Anderson
Michael J. Anderson
President and Chief Executive Officer
