Farmers Grain, LLC to enhance region’s grain handling capacity
Ceres Global Ag Corp. (TSX: CRP) (“Ceres Global” or the “Company”), a global agricultural, energy and industrial products merchandizing and supply chain company, announced today that its subsidiary, Riverland Ag Corp. (“Riverland”) and Farmer’s Cooperative Grain and Seed Association (“FCGS”) have completed the formation and establishment of Farmers Grain, LLC, which includes a grain merchandising facility based in Thief River Falls, Minnesota (the “Joint Venture”). The Joint Venture will commence an expansion project in the spring of 2021 designed to enable loading unit trains within 18 months. The facility will be serviced by Canadian Pacific (“CP”) and FCGS will continue to operate its non-grain merchandising businesses independent of the operation of the Joint Venture. “Completion of the joint venture with FCGS in Thief River Falls continues the meaningful progress we’ve made around our goal to add strategic origination of our core products while also expanding our geographic footprint in the upper Midwest region of the U.S.,” said Mr. Robert Day, President and Chief Executive Officer at Ceres. “We welcome the FCGS employees who will staff the Joint Venture and sincerely look forward to working with the hundreds of grower-members of FCGS and other growers in Northwest, MN to connect with Ceres and Riverland’s end‐use customers.” About Ceres Global Ag Corp. (ceresglobalagcorp.com) Through its network of commodity logistics centers and team of industry experts, Ceres and its subsidiaries (“Ceres Global”) merchandizes high-quality North American agricultural commodities and value-added products and provides reliable supply chain logistics services to agricultural, energy and industrial customers worldwide. Ceres Global is headquartered in Minneapolis, Minnesota, and together with its affiliated companies, operates 14 locations across Saskatchewan, Manitoba, Ontario, and Minnesota. These facilities have an aggregate grain and oilseed storage capacity of over 32 million bushels. Ceres Global has a 50% interest in Savage Riverport, LLC, a joint venture with Consolidated Grain and Barge Co., a 50% interest in Farmers Grain, LLC, a joint venture with Farmer’s Cooperative Grain and Seed Association, a 50% in Gateway Energy Terminal, a joint venture with Steel Reef Infrastructure Corp., a 25% interest in Stewart Southern Railway Inc., a short-line railway located in southeast Saskatchewan with a range of 130 kilometers, and a 17% interest in Canterra Seed Holdings Ltd, a Canada-based seed development company. For more information about Ceres Global, please visit www.ceresglobalagcorp.com About Farmer’s Cooperative Grain and Seed Association (farmerscooptrf.com) Established in 1940, FCGS provides a broad range of agricultural products and services to producers, customers and patrons, including grain merchandising and storage, agronomy services, seed products and trucking services. FCGS’ patron base consists of over 400 growers across a 3-county area. SOURCE: Ceres Global Ag Corp.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |