MANDEVILLE, LA and ST. LOUIS PARK, MN (May 1, 2018) – Consolidated Grain and Barge Co. (“CGB”) and Riverland Ag (a fully owned and integrated subsidiary of Ceres Global Ag Corp.) announced an agreement today to jointly own a new company called Savage Riverport, LLC. This company has assumed ownership and operation of a terminal located in Savage, MN.
The terminal, previously owned by Riverland Ag, will receive, store, and ship wheat, corn, soybeans, oats, rye and other products loaded on the TCWR, BNSF, UP and CP railroads, and by truck. The facility has 9.2 million bushels of grain storage with high speed truck and rail receiving capacity, as well as rail and barge shipping capabilities.
"CGB is looking forward to continued expansion into new markets with producers, cooperatives and commercial grain elevators. We’ve successfully worked with Riverland for the past five years and that relationship built a solid foundation for creating this business,” said Steve Burbrink, Director of Business Development at CGB.
“Partnering with CGB at the Savage location is a strategic move for Ceres. The formation of this company maintains critical access to river, rail and truck logistics in the upper Mississippi River region while also generating capital that we will deploy for growth in other areas of our business. By maximizing total volume from all the products each of our companies provide our customers with, we will significantly lower cost per unit handled,” said Robert Day, President & CEO of Ceres Global Ag Corp.
About Ceres Global Ag Corp.
Headquartered in St. Louis Park, MN, Ceres Global Ag Corp. procures and provides North American agricultural commodities & value-added products, industrial products, fertilizer, energy products and reliable supply chain logistics services to customers worldwide. With over 130 employees, Ceres operates six locations across the upper Midwest U.S. and Canada. Its wholly-owned facilities throughout North America have an aggregate grain and oilseed storage capacity of approximately 34.4 million bushels. Ceres also has a 25% interest in a short-line railway located in southeast Saskatchewan with a range of 130 kilometers, and a 17% interest in Canterra Seed Holdings Ltd, a Canadian-based seed development company. For more information about Ceres Global and its business, please visit us at www.ceresglobalagcorp.com.
CGB is a wholly owned subsidiary of CGB Enterprises, Inc., which is headquartered in Mandeville, LA and is the holding company for the diversified businesses that comprise the CGB family, with over 2,500 employees and operations in 40 states. In addition to the 97 grain facilities CGB operates, the company has dedicated operations in logistics and transportation (CTLC), fertilizer, crop insurance (Diversified Services), agri-finance, soybean processing, producer risk management, and other related businesses. For more information on CGB Enterprises, Inc. and its family of businesses, please visit us at www.cgb.com.