|By Marketwired .||
|February 28, 2014 04:00 PM EST||
REGINA, SASKATCHEWAN -- (Marketwired) -- 02/28/14 -- Viterra Inc. ("Viterra"), Canada's grain industry leader, is pleased to announce that it has completed its acquisition of certain assets of Lethbridge Inland Terminal Ltd. (LIT), including a high throughput grain elevator with a capacity of 42,000 metric tonnes. The agreement was originally announced in a news release on December 28, 2013, and has received all pertinent shareholder and regulatory approvals.
Kyle Jeworski, Viterra's President and CEO for North America said, "We are excited to integrate this high quality terminal into our operations, and welcome its employees to the Viterra team. Together, we look forward to providing area customers with trusted advice and tailored service, backed by Viterra's expansive asset network and connections to world markets."
Viterra is dedicated to operational excellence in Western Canada's grain handling system. Over the last several years, the company has proactively made a series of infrastructure investments in its asset network to promote the efficient movement of agricultural commodities. Most recently in Alberta, Viterra announced it is spending over $34 million through an expansion and upgrade to its facility in Grassy Lake, as well as building a high throughput terminal in Grimshaw.
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 nearly 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.