Viterra Enters into Asset Purchase Agreement to Acquire the Assets of Ilta Grain's Belle Plaine Facility

REGINA, Aug. 20, 2019 /CNW/ - Viterra is pleased to announce that is has signed a purchase agreement to acquire the assets of Ilta Grain Inc.'s processing facility in Belle Plaine, SK.  The purchase agreement is subject to customary closing conditions, including court approval at a hearing scheduled for August 23, 2019.  If these conditions are met, the transaction is expected to close on August 27, 2019.

"We are pleased to be working towards integrating this high quality facility into our industry leading grain asset network," said Kyle Jeworski, Viterra's President and CEO for North America. "We firmly believe that our operational and logistical expertise, combined with our focus on superior service and unrivalled market insight, will allow us to bring this facility to its full potential for the benefit of our customers."

The facility can handle a wide range of pulses and other commodities, and provides added value through precision cleaning and conveyor equipment to prepare and ship crops for export.  It has multiple logistics capabilities including container, bagged, intermodal, truck and bulk rail shipments. Completed in the fall of 2017, it has a storage capacity of 22,000 metric tonnes, along with a 135 railcar loop track.

Employees at the facility will be offered the opportunity to join Viterra's team.

About Viterra

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 Glencore Agriculture, a global market leader in originating, handling, processing and marketing agricultural commodities.

SOURCE Viterra Inc.