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Tag Archives Glencore

G3 CEO Karl Gerrand, shown here in April in Winnipeg, said the company isn’t particularly interested in making a move on Glencore’s Viterra assets. (Dave Bedard photo)
Crops, Markets, Reuters

Not much interest in Glencore ag assets at grain firm G3

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Winnipeg | Reuters –– Grain handler G3 Canada, a joint venture between a Saudi Arabian firm and Bunge Ltd., doesn’t have much interest in bidding for a stake in rival Glencore’s agricultural business, its chief executive said Tuesday. Swiss-based Glencore, the trader and miner whose shares have been battered by the commodities slump, is looking […] Read more
(CHS Inc.)
Crops, Markets, Reuters

CHS says Viterra intriguing at right price

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Chicago | Reuters — U.S. farm co-operative and grains trader CHS Inc. would be interested in the Canadian grain handling assets of embattled commodities trader Glencore, but only if they came at a discounted price, CHS CEO Carl Casale said in an exclusive interview. As part of a debt-reduction plan, Swiss-based Glencore has said it […] Read more
Legumex to sell processing plants, wind down company
Canola, Crops, Markets, Pulses, Reuters

Legumex to sell processing plants, wind down company

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Winnipeg | Reuters –– Prairie special crops firm Legumex Walker said Monday it has agreed to sell its pulse and special crop processing plants and expects to sell its U.S. canola-crushing facility, allowing it to wind down the company. Winnipeg-based Legumex plans to sell its special crops division, which includes 14 plants in Canada, the […] Read more
Mayo Schmidt, shown here in Winnipeg in 2007, led Viterra until 2012. (Dave Bedard photo)
Crops, Machinery, Markets

Ex-Viterra chief to take Ontario’s Hydro One public

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The chief executive who morphed Saskatchewan Wheat Pool from a debt-crushed grain handler into Viterra, then oversaw its sale to Glencore, has been tapped to take Ontario’s Crown-owned power utility public. Toronto-based Hydro One on Thursday announced Mayo Schmidt as its new president and CEO effective Sept. 3, replacing Carmine Marcello. “We believe that Mr. […] Read more
(CNW Group/Legumex Walker)
Canola, Crops, Markets, Pulses

Loan called on Legumex’s U.S. canola crusher

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Prairie special crop processor Legumex Walker is weighing its options after major lenders to the company’s U.S. canola crushing arm called their loan. Pacific Coast Canola, a cold-press canola crushing operation at Warden, Wash., about 160 km southwest of Spokane, is 84 per cent owned by TSX-traded, Winnipeg-based Legumex, and 16 per cent owned by commodity […] Read more
The Andersons Grain Group’s Toledo-area elevator at Maumee, Ohio. (AndersonsGrain.com)
Crops, Markets, Reuters

Andersons shares up after report hints Glencore interest

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Reuters — Shares of U.S.-based agribusiness Andersons Inc. jumped more than six per cent on Friday, outpacing the sector, after a Bloomberg News report speculated that Glencore could be interested in acquiring the company. The story mentioned Glencore’s interest in expanding its agricultural assets and named Ohio-based Andersons as well as privately held companies Scoular […] Read more
(Dave Bedard photo)
Crops, Markets

Viterra boosts Glencore results

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Commodity giant Glencore saw its earnings from mining and oils drop last year, but saw a 172 per cent increase in its earnings from agricultural trading — largely due to results from Viterra. The world’s largest commodity trader on Monday reported overall EBITDA (earnings before interest, taxes, depreciation and amortization) of $12.8 billion on sales […] Read more

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