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Cargill Enhances Grower Services
with Elevator & Port Acquisitions
July 9, 2007
WINNIPEG, Mb – Effective June 30, 2007, Cargill Limited and Saskatchewan Wheat Pool (SWP) finalized their agreement over the sale and transfer of nine “high-throughput” elevators and one export grain terminal in Vancouver. The “North Shore” terminal in Vancouver will remain a year-round (24/7/365-day) operation, officially opened for business as Cargill on June 30, while the nine new country locations opened as Cargill during the week of July 3.
Len Penner, Cargill President and AgHorizons business unit leader, expressed pleasure about the agreement and confirmed that Cargill remains on a path of sustainable growth. “As a company that sees continued opportunity for the Canadian agriculture and agri-food industry, we are enhancing our geographic reach to provide growers heightened access to more localized expertise, service and offerings as a key priority,” Penner said.
“We are also optimistic in that this transaction gives Cargill opportunity to partner with growers in new as well as established areas of our operations,” Penner added. “Moreover, this is one of the largest single investments Cargill has made over its 80 years in Canada, and we are proud to be able to increase our team by another 200 skilled individuals.”
Penner went on to note that “growers should feel confident that, during this very busy time in their crop year, they can count on responsive, knowledgeable service whenever, and now increasingly, wherever they need it.”
With respect to the Vancouver terminal opportunities, Penner confirmed that Cargill now has greater flexibility in managing its grain pipeline with growers and for Canada’s valued export customers.
“We see the current evolution of the grain industry is yet another opportunity to further position the distinctive advantages that our solutions create for our valued growers and customers globally,” Penner concluded.
Full details and considerations were not disclosed, however the following itemizes the final transaction:
- SWP has sold Cargill a total of nine 'country assets' across the prairies - a combination of elevator/crop input centres:
- Davidson, SK (grain handling / crop input)
- Davidson, SK (grain handling / crop input)
- Blackie, AB (grain handling)
- Kindersley, SK (grain handling / crop input)
- Viking, AB (grain handling)
- Congress, SK (grain handling / crop input)
- Equity, AB (grain handling)
- Vermilion, AB (grain handling)
- Elva, MB (grain handling / crop input)
- Camrose, AB (grain Handling / crop input)
- SWP has sold 100 percent of its owned terminal, located on the North Shore of the port of Vancouver, to Cargill; and,
- Cargill has sold its 50 percent interest in the Vancouver Cascadia Terminal to SWP.
Robert Meijer
Director, Public Affairs
Cargill Limited
Telephone: (204) 947-6370
robert_meijer@cargill.com
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