The Canadian Press - ONLINE EDITION

Wheat board to buy Saskatchewan grain terminal as part of privatization plan

  • Print

WINNIPEG - The Canadian Wheat Board is purchasing a grain-handling company in western Saskatchewan as part of a privatization plan.

The federally owned grain marketer said Monday it has reached an agreement to buy all of the common shares of Great Sandhills Terminal Ltd. for $17.4 million pending approval by shareholders.

The deal includes a grain-handling facility near Leader, Sask., and a shortline railway in the region.

Dayna Spiring, the CWB's chief strategy officer, said the purchase strengthens the board's network, which includes other grain facilities in Saskatchewan, Manitoba, Ontario and Quebec.

"It is a very big piece of our puzzle and we are not done yet," Spiring said.

"To privatize and to be a successful grain company the CWB has always said that we need to have a network of assets across Western Canada."

The deal through a wholly owned subsidiary is to be financed through a combination of the corporation's retained earnings and commercial borrowing, she said.

Great Sandhill's board of directors has unanimously endorsed the sale and is recommending that shareholders approve the transaction at a meeting expected to be held in August.

Spiring suggested the Canadian Wheat Board now wants to add a facility in Alberta to its network.

Earlier this month the CWB announced it had wrapped up a $43.2 million deal to buy all of the shares of Prairie West Terminal Ltd. in Saskatchewan.

The corporation announced last November it would buy all shares of Mission Terminal, Les Elevateurs des Trois-Rivieres, and Services Maritimes Laviolette from Upper Lakes Group Inc.

Mission Terminals markets crops around the world and operates grain-handling facilities in Western Canada and Thunder Bay, Ont.

Les Elevateurs des Trois-Rivieres in Trois-Rivieres, Que., has loading and storage facilities than can handle 110,000 tonnes of grain per year.

The price of that deal was not disclosed.

Under federal law, the CWB is to be privatized no later than August 2017, but the corporation said it expects to beat that deadline.

It hopes to provide Ottawa with its privatization plan within a year, Spiring said.

The federal government passed a law in 2011 that stripped the Canadian Wheat Board of its monopoly on western wheat and barley sales.

Farmers can still market their grain through the board, but now it is a voluntary decision.

— By John Cotter in Edmonton

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Glenn January won't blame offensive line for first loss

View more like this

Photo Store Gallery

  • A one day old piglet glances up from his morning feeding at Cedar Lane Farm near Altona.    Standup photo Ruth Bonneville Winnipeg Free Press
  • JOE BRYKSA/WINNIPEG FREE PRESS Local-(Standup photo)- A wood duck swims through the water with fall refections in Kildonan Park Thursday afternoon.

View More Gallery Photos

Poll

Will you miss Grandma Elm?

View Results

View Related Story

Ads by Google