TORONTO, Jan. 12, 2015 /CNW/ - Ceres Global Ag Corp. ("Ceres" or the "Corporation") (TSX: CRP) today announced that 63 rail hopper cars from the Burlington Northern Santa Fe ("BNSF") Railway have arrived at the Corporation's commodity logistics hub in Northgate, Saskatchewan ("Northgate"). With the completion of the temporary grain transloading facility in October 2014 and the installation of the U.S. Customs trailer in late December 2014, the arrival of the rail hopper cars signals the commencement of loading and shipping operations for wheat and other agricultural commodities at Northgate.
"The arrival of the 63 BNSF rail hopper cars represents a major milestone for Ceres," noted Patrick Bracken, CEO. "Northgate is now fully operational, and able to provide grain farmers with a critical north-south link into BNSF's 32,500 mile network, while also boosting origination opportunities and potentially improving efficiencies and margins for Riverland Ag."
Ceres anticipates sourcing wheat and grains from farms located throughout the southeastern Saskatchewan area for loading and shipment through Northgate. The build out of Northgate is expected to progress further, as Ceres is currently constructing a permanent, high speed elevator, with 2.2 million bushel storage capacity that will be capable of loading a 120-car shuttle train. This elevator is expected to be operational in October 2015 and completed in March 2016.
About Ceres Global Ag Corp. (ceresglobalagcorp.com)
Ceres Global Ag Corp. is a Toronto-based company focused on two primary businesses: a Grain Storage, Handling and Merchandising unit, anchored by its 100% ownership of Riverland Ag Corp., and a Commodity Logistics unit, containing its 25% interest in Stewart Southern Railway Inc. and its development of the Northgate, SK Commodity Logistics Centre. Riverland Ag Corp. is a collection of nine (9) grain storage and handling assets in Minnesota, New York, and Ontario having aggregate storage capacity of approximately 47 million bushels. Riverland Ag also manages two (2) facilities in Wyoming on behalf of its customer-owner. Stewart Southern Railway Inc. is a short-line railway with a range of 130 kilometres that operates in South-eastern Saskatchewan. The Northgate Commodities Logistics Centre is a proposed $96 million grain, oil and oilfield supplies transloading site being developed in conjunction with Riverland Ag and several potential energy company partners, connected to BNSF Railway.
SOURCE Ceres Global Ag Corp.
For further information: Jennifer Wood, TMX Equicom, (416) 815-0700 ext. 226, [email protected]