Saskatchewan-based inland grain terminals join forces to purchase Terminal One Vancouver.Agricore United Agricore United was a farmer-directed agri-business in Canada. It supplied crop nutrition and crop protection products, and offered grain handling and marketing services. It was created on November 1, 2001 by the merger of Agricore and United Grain Growers. announced that it has signed an agreement for the sale of the former United Grain Growers United Grain Growers, or UGG, was a Canadian grain distributor. Founded in 1906 in Winnipeg, UGG was active in grain sales, crop inputs and livestock production services. Limited terminal elevator Terminal Elevator An agricultural elevator that is considered to be the largest accumulator of the actual. Notes: Generally, terminal elevators are located at points where the movement of agricultural products to processing plants is convenient. in Vancouver, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography ("the Vancouver Terminal") to Terminal One Vancouver Ltd. ("Terminal One"). The sale of the Vancouver Terminal was undertaken pursuant to a consent agreement with the Commissioner of Competition following the merger of United Grain Growers Limited and Agricore Cooperative Ltd. Terms of the deal were not disclosed but the transaction is expected to close on or before August 1, 2005, subject to certain closing conditions and regulatory approval. Agricore United will consolidate its Vancouver grain handling operations through two other terminals in which it has an interest, and as a result, the sale is not expected to materially impact on the company's results from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the . The proceeds of the sale may be used for general corporate purposes, including the non-scheduled repayment of debt or capital reinvestment. Agricore United is one of Canada's leading agri-businesses. The Prairie-based company is diversified into sales of crop inputs and services, grain merchandising, livestock production services and financial markets. Agricore United's shares are publicly traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol AU.LV. "We're pleased that we've been able to come to a successful arrangement with Terminal One, which allows them to complete their grain pipeline," says Murdoch MacKay, vice-president, terminal services for Agricore United. "Agricore United has had a strong relationship with independent inland terminals over the years and, given the leadership demonstrated by them through this process, we're confident in their future success." Terminal One represents a consortium of five farmer-owned inland grain terminals operating in Saskatchewan: Great Sandhills Sandhills could be:
"This is a great day for our five participating companies as well as independent inland terminal operators across Western Canada," says Garth Gish, representing Prairie West Terminal Ltd. and spokesperson for Terminal One. "We now have full access to the key port of Vancouver The Port of Vancouver is the largest port in Canada, the largest in the Pacific Northwest, and the largest port on the West Coast of North America by metric tons's of total cargo with 76.5 million metric tons. , which previously was only available to us through handling agreements with other terminal elevator operators. It is a dream come true for our respective organizations and we are extremely excited about the future possibilities it presents us." |
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