Grain Company to Buy Canadian Crop Terminal

Posted by Eric Haun
Monday, June 23, 2014

Canadian grain marketer CWB said on Monday it has agreed to buy Great Sandhills Terminal Ltd, a farmer-owned 20,000-tonne grain handling facility in Leader, Saskatchewan, for $16.3 million.

The deal, subject to regulatory and shareholder approvals, is expected to close by Sept. 1. It also includes a majority stake in a short-line railway in Saskatchewan.

CWB did not release further financial details.

CWB, which was previously known as the Canadian Wheat Board, has made several deals to piece together a grain-handling network in the past year as it moves toward operating outside of government control. Ottawa stripped the board of its western wheat and barley marketing monopoly in 2012 and agreed to guarantee CWB's borrowings until it is sold or develops a plan to be self-sustaining by 2016.

CWB this year also bought Prairie West Terminal Ltd, which includes five grain-handling facilities in Saskatchewan, and started building grain elevators near Colonsay, Saskatchewan, and Portage la Prairie, Manitoba.

Last year, CWB bought Mission Terminal Inc from Upper Lakes Group, giving it grain storage at Port of Thunder Bay, Ontario.

CWB's moves came as the country's grain handlers and railways struggled during the winter to move a record harvest to port, causing a massive backlog. Larger grain handlers Viterra, owned by Glencore Xstrata PLC, Cargill Ltd and Richardson International are also upgrading their Western Canadian crop-handling networks.

($1=$1.07 Canadian)

(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Jeffrey Benkoe)

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

GAO: Ending Crude Export Ban Could Ease 'Price at the Pump'

As the energy profile of the U.S. continues to improve and evolve daily, fresh debate in favor of exporting oil and gas products -- which would have a significant impact on the U.

'New Tango' Brings More Post-Panamax Ships to Charleston

New service expands Port of Charleston's capacity to serve North-South trade The SC Ports Authority today received the first ship call of a new consolidated

Video: E-Class Edith Mærsk on the Thames

The largest ship ever to enter the Thames arrived at DP World London Gateway, the U.K.’s new deepwater container port. The 397-meter-long, 56-meter-wide Edith Mærsk

News

Cruise Ship Returns to Texas after Ebola Concern

The Carnival Magic cruise ship was en route back to the United States on Saturday with a passenger from Texas who might have handled specimens of the first Ebola

MEPC Approves Draft Polar Code

Draft Polar Code approved by IMO’s Marine Environment Protection Committee A key step on the way to a mandatory Polar Code for ships operating in Arctic and

NMRA Awards Scholarship to Yacht Design Students

The National Marine Representatives Association (NMRA) awarded two scholarships to students pursuing careers in the field. Noah Luff of Ventura, California is one

Logistics

GAO: Ending Crude Export Ban Could Ease 'Price at the Pump'

As the energy profile of the U.S. continues to improve and evolve daily, fresh debate in favor of exporting oil and gas products -- which would have a significant impact on the U.

CMA CGM Acquires 7,000 Reefer Containers

The CMA CGM Group announced it has acquired more than 7,000 of last generation 40’ High Cube Reefer containers including 6,000 low consumption engines. The CMA

'New Tango' Brings More Post-Panamax Ships to Charleston

New service expands Port of Charleston's capacity to serve North-South trade The SC Ports Authority today received the first ship call of a new consolidated

Mergers & Acquisitions

Navico Acquires MARIS; Expands Portfolio

Navico Holding AS, parent company to the Simrad brand of navigational marine electronics, has reached an agreement to acquire MARIS (Maritime Information Systems A/S) from The Grieg Group.

No Merger of Yara & CF Industrie

Yara International ASA and CF Industries have terminated their discussions regarding a potential merger of equals transaction. "This has been a constructive process,

KBR, Daewoo win Eni FLNG FEED

KBR Inc. announced today that the KD Consortium, consisting of KBR and Daewoo Shipbuilding & Marine Engineering Company, Ltd, has been awarded a front end engineering

 
 
Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2742 sec (4 req/sec)