CWB today announced it has acquired a 10% stake (approximately) in Prairie West Terminal Ltd (PWT), a farmer-owned grain handling organization located in west central Saskatchewan. Including the shares owned by Mission Terminal Inc.,a wholly-owned subsidiary of CWB, this 10% buy-in brings total CWB ownership of PWT up to approximately 12% ownership. Financial details of the deal were not disclosed.
“CWB has always valued and supported farmers,” said CWB president and CEO Ian White. “This investment is a great opportunity to participate in an innovative farmer-owned organization that prioritizes farmers’ interests.”
Related News: CWB Takes on Full Ownership of Mission Terminal
CWB’s investment in PWT is part of an ongoing strategy to position CWB as “a strong and viable Canadian-focused grain company that includes farmer ownership,” according to a press release. CWB’s plan for farmer ownership would allow farmers to have an equity interest in CWB after privatization, allowing farmers to benefit from CWB’s business activities, according to the company.
For more information on the future of CWB, go to www.cwb.ca/future