Providence Grain Group and Lansing Trade Group have announced they’re consolidating their western Canadian grain businesses under the Providence Grain Solutions name.
Lansing is also investing in Providence and will own approximately 38 percent of the company, which will keep its headquarters in Fort Saskatchewan, Alberta.
“Providence is honoured to welcome Lansing’s Western Canada employees and customers to the existing employees and customer base that make up the Providence Grain Solutions brand,” said a statement from the primarily farmer-owned grain and crop input company. “Combining these two businesses is a chance to align the strong asset base and merchandising of Providence with the Lansing team and build a larger network across the prairies.”
Milton Miller will remain president and CEO, while the board will include a majority of producer shareholders.
The deal is expected to close on March 31, 2016.
Providence also announced its subsidiary Columbia Containers has received approval from the Port of Vancouver to expand its container facility. The expansion will “increase rail velocity and associated incentives, increase storage capacity to 14,000 MT of grain, and double container packing speed.”