WINNIPEG, MB, March 28 /CNW/ - Cargill Limited announced today that it
has entered into a definitive purchase and sale agreement with Saskatchewan
Wheat Pool Inc. (TSX:SWP) for (9) high throughput elevators and one export
grain terminal in Vancouver.
Company officials outlined the details of the transaction, mutually agreed
to by Cargill and SWP, as follows:
1. SWP would sell Cargill a total of nine 'country assets' across the
prairies - a combination of elevator/crop input centres:
- Davidson, SK (grain handling/crop input)
- Kindersley, SK (grain handling/crop input)
- Congress, SK (grain handling/crop input)
- Vermilion, AB (grain handling)
- Camrose, AB (grain handling/crop input)
- Blackie, AB (grain handling)
- Viking, AB (grain handling)
- Equity, AB (grain handling)
- Elva, MB (grain handling/crop input)
2. SWP would sell its 100% owned terminal located on the North Shore of
the port of Vancouver to Cargill; and,
3. Cargill would sell its 50% interest in the Vancouver Cascadia
Terminal to SWP (with some considerations).
Of special note, this agreement remains subject to SWP's completion of
its proposed bid for Agricore United.
Len Penner, President of Cargill Limited, said that the selection of
these high throughput facilities ensures growers would continue to have access
to local service and programs. "Cargill has a wealth of experience in grain
marketing, risk management and crop input service. If this expansion of our
business materializes, we look forward to serving more farmers by providing
our professional grain marketing support and crop production consulting
services proven in delivering customer success."
With respect to the Vancouver terminal opportunities, Penner concluded
that Cargill would have greater flexibility to manage its grain pipeline to
Canada's valued export customers.
"These assets will complement our existing commitment to being the
partner of choice delivering distinctive value to fulfill our goal of helping
to nourish the world," Penner confirmed. "Cargill wants to ensure that
Canadian growers are able to fully capture and share in our success."
Cargill operates grain handling and crop inputs facilities across the
Prairies and works in partnership with producers to develop grain-marketing
solutions. Headquartered in Winnipeg, Manitoba, Cargill Limited employs over
10,000 people across the country and has business interests in meat, egg and
oilseed processing, animal feed, salt, chocolate, natural gas, crop inputs, as
well as grain handling and merchandising. For more information, visit
For further information:
For further information: Robert Meijer, Public Affairs - Cargill
Limited, (204) 947-6370