Winnipeg - CWB is pleased to announce that it has successfully completed the acquisition of Great Sandhills Terminal Ltd. (GST). The completion of the transaction follows an August 18 meeting of the shareholders of GST at which votes were cast 100% in favour of the transaction.
“The result of the Great Sandhills Terminal shareholder vote is a resounding affirmation of farmers’ level of confidence in CWB’s strategic direction, and in our ability to be a strong and viable competitor in the Western Canadian marketplace,” said CWB president and CEO Ian White. “This deal strengthens our presence in western Saskatchewan with the addition of another large-capacity grain terminal and officially puts us in the short-line railway business.”
The acquisition of Great Sandhills Terminal includes a 23,400 T capacity high-throughput grain handling facility near Leader, Saskatchewan and a majority stake in Great Sandhills Railway - a shortline railway operating 197 kilometers of track between Swift Current and Burstall, Saskatchewan.
“CWB continues to build a strong network throughout the grain marketing supply chain through the purchase and construction of assets in the country and at port,” said White. “As CWB continues to grow, we become more attractive to farmers looking at the potential long-term benefits of choosing to deliver to CWB. All tonnes delivered to any of our facilities or through our grain-handling partners continue to be eligible for an equity interest in CWB under CWB’s Farmer Equity Plan.”
CWB’s Farmer Equity Plan began at the 2013 harvest and provides that farmers who deliver grain to CWB will be eligible to receive an equity interest in the company after privatization. It’s the only opportunity for farmers to gain an ownership stake in a Canadian-focused grain company. Learn more about CWB’s plans for the future at www.cwb.ca/future .