WINNIPEG, Manitoba, June 2, 2015 /CNW/ -- G3 Global Holdings, a limited partnership between Bunge Canada and SALIC Canada, announced that it has formed a joint venture with Western Stevedoring Company Limited to examine the feasibility of building an export grain terminal at Lynnterm West Gate at Port Metro Vancouver.
Bunge Canada and SALIC Canada also formed G3 Global Grain Group, which was named the successful investor in CWB in April 2015.
"The G3 vision is to create a highly efficient coast-to-coast Canadian grain enterprise that provides stronger market access solutions for growers and delivers value to our stakeholders," says Karl Gerrand, CEO, G3. "The planned combination of CWB and Bunge's Canadian Grain assets will provide a highly competitive eastern footprint. We now are looking west to determine whether this is the right time and location to take the next step."
A number of matters need to be resolved and permitting considered before a decision to move forward with the project is made. Gerrand added, "Together with Western Stevedoring, we are pursuing related discussions as we move through feasibility and permitting processes. We believe an open relationship with First Nations and the community is critical to the long-term success of the project."
The joint venture will make an announcement at the appropriate time if it decides to move forward with the project.
About G3 Global Holdings
G3 Global Holdings is a limited partnership established by Bunge Canada and SALIC Canada Limited. Bunge Canada and SALIC Canada also established G3 Global Grain Group. Bunge Canada is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the animal feed, food processor, foodservice and bakery industries. SALIC Canada Limited is a wholly owned subsidiary of Saudi Agricultural and Livestock Investment Company (SALIC), a joint stock company based in Riyadh, Saudi Arabia. SALIC is building a global agribusiness by investing in greenfield and existing ventures.
About Western Stevedoring Company Limited
Western Stevedoring is a diversified stevedoring, terminal and logistics company with operations throughout British Columbia since 1948. Western is operator of Lynnterm East Gate and West Gate, located in North Vancouver, which specializes in handling forest products, steel and project cargoes. Western Stevedoring is a wholly owned subsidiary of Carrix Inc., headquartered in Seattle, Washington. Carrix is the parent company of SSA Marine and is the world's largest privately held marine and rail terminal operator.
SOURCE Bunge North America
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