Viterra to Strengthen Value Added Processing Capabilities Through Acquisition of TRT-ETGO - Viterra to Strengthen Value Added Processing Capabilities Through Acquisition of TRT-ETGO - Canada
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REGINA, SASKATCHEWAN--(Marketwired - Aug. 27, 2015) - Viterra is pleased to announce that it has signed a purchase agreement to acquire the shares of Twin Rivers Technologies Entreprises De Transformation De Graines Oléagineuses Du Québec Inc. (TRT-ETGO). The acquisition includes a canola and soybean crushing and refining plant located in Bécancour, Quebec.
With a crushing capacity of 1.05 million metric tonnes per year, TRT-ETGO is the largest oilseed processing plant in Eastern Canada. The plant began operations in 2010 and produces vegetable oil for food and industrial markets, as well as meal for the livestock industry.
"This is a good strategic fit for Viterra that will allow us to connect our farm customers to more marketing opportunities, further leveraging our origination capabilities through our industry leading asset network," said Kyle Jeworski, Viterra's President and CEO for North America. "We're excited by the opportunities that will be available to us, and with TRT-ETGO being the largest full swing plant in Canada, we will have the ability to optimize our output by crushing canola or soybeans depending on market conditions and end user needs."
The plant is ideally located on the St. Lawrence Seaway, with the ability to receive and ship oilseeds by truck, rail, and vessel, and is in close proximity to Viterra's port facility in Montreal.
The transaction is subject to regulatory approvals and other customary closing conditions, and is expected to close this year.
Viterra is Canada's grain industry leader, supported by the expertise of its people, a superior network of assets, and unrivalled connections to world markets. Headquartered in Regina, Saskatchewan, our commitment to agriculture goes back over 100 years, partnering with farmers to market and move their crops to areas of need around the world. Our continued focus on operational excellence throughout North America allows us to efficiently handle, process, distribute and transport grains and oilseeds. We provide further value to our partners through a wide variety of contracting and risk management tools to help them realize the full potential of their crops. For more information on Viterra in North America, please visit www.viterra.com. Viterra is part of the Agricultural Business Segment of Glencore.