CWB Reaches Agreement on Move to Full Ownership of Mission Terminal

CWB has reached an agreement to purchase all of the issued and outstanding shares of Mission Terminal, Les Élévateurs des Trois-Rivières, and Services Maritimes Laviolette from Upper Lakes Group Inc., the company states in a press release. The purchase positions CWB as the largest east-coast shipper of producer cars from Western Canada.

The press release adds that “these acquisitions provide the starting point for a network of strategic grain-handling assets for CWB-marketed grain and they are another critical step in CWB’s strategy to transition towards an operating model independent of the government.”

The purchase starts the building of a more vertically integrated company and complements CWB’s strengths in sales and marketing, according to Ian White, CWB president and CEO. The purchase is scheduled to be completed on December 31, 2013. For more information visit www.cwb.ca .

About the shipping companies:

Mission Terminal Inc.’s head office is located in Winnipeg, Manitoba. The company sources and markets grain such as wheat, durum, barley, canola, rye, flax, peas and oats, and industrial products, for customers around the globe. It operates handling facilities both in Western Canada and at Thunder Bay. Mission Terminal Thunder Bay, located at the mouth of the Mission River, has a licensed storage capacity of 136 500 MT and handles approximately 1.5MMT annually.

 

Les Élévateurs des Trois-Rivières (ETR) is located in Trois-Rivières, Quebec, and is a receiving, storage and loading facility with a storage capacity of 110 000 tonnes of grain, 78 000 tonnes of alumina and 20 000 tonnes of coke. It can receive grain by ocean ship, laker, rail or truck and is one of the few facilities able to unload vessels of up to Panamax size.

 

Services Maritimes Laviolette (SML) is also located in Trois-Rivières, Quebec and offers stevedoring and related services.

 

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