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News, Oilseeds

Viterra To Buy Manitoba Canola Crusher

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The “cold-press” canola crushing plant at Ste. Agathe is becoming the latest acquisition for Canada’s largest grain company. Viterra announced Monday it will buy the Associated Proteins plant in the industrial park on the community’s west side for $64 million plus “working capital.” Pending approval from the federal Competition Bureau, the company said it expects
Cereals, News

Viterra, ABB Grain Come To Terms

“If (Viterra) did something else big after this, before this got some traction, then we think they might… bite off more than they can chew.” – ANIL PASSI OF CREDIT RATI NG AGENCY DBRS Canada’s top grain handler has agreed to buy Australia’s ABB Grain in a US$1.2 billion share-and-cash deal, giving Viterra better access
Cereals, Opinion

Viterra Attempts To Go Global

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Atakeover of Australia’s ABB Grains Ltd. by Viterra Inc. could transform the Canadian grain company into a global powerhouse, but it also runs the risk of repeating mistakes made in a previous attempt at foreign expansion. Viterra, Canada’s largest grain handler, has offered up to A$1.64 billion (US$1.16 billion) for ABB, a major Australian grain
Opinion

Big Oil Invests In Ethanol

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If it’s even partly true that you’re known by the company you keep, then the farmer-loved ethanol business got a lot less lovable Feb. 8 when Valero Energy Corp., the largest crude oil refiner in North America, announced its intent to purchase five of the choicest plants owned by mega-biofuel maker, mega-bankrupt VeraSun Energy. Should
News

U. S. Oil Refiner Buys Into Ethanol

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Oil refiner Valero Energy beat out Archer Daniels Midland in buying bankrupt VeraSun Energy Corp.’s ethanol plants because ADM was only interested in buying the entire company, a lawyer for VeraSun said March 18. VeraSun announced March 17 that Valero, the largest U. S. oil refiner, had won an auction to buy seven of its
News

More U. S. Ethanol Companies In Financial Trouble

Corn ethanol maker Aventine Renewable Energy Holdings Inc. said March 16 it was in default on some its debt payments and may need to seek Chapter 11 bankruptcy protection. The company said it was seeking to raise capital, “including seeking additional debt and equity financing and a potential sale of all or part of the
Beef cattle, Hogs, Livestock, News

Closing Feedyards Could Increase Beef Prices

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“In the long term, consumers are going to see much higher meat and poultry prices because the economic conditions are causing livestock producers to cut production.” – JIM ROBB Amer icans are eat ing more hamburgers and fewer steaks as the economy wallows in recession, and that has led to huge losses at U. S.
News, Poultry

Pilgrim’s Pride Eyes 2009 Bankruptcy Exit

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U. S. chicken producer Pilgrim’s Pride Corp. has idled plants and is streamlining operations in hopes of exiting from bankruptcy protection by the end of 2009, CEO Don Jackson told Reuters on Feb. 27. The company filed for bankruptcy protection in December after struggling for nearly a year with high feed costs and low meat
News

Price To Be Key At U. S. Consumer Conference

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How much recession-wracked consumers will pay for brand names will be a key focus when executives behind the best-known food, drink and cleaning products meet Wall Street analysts next week. That is a far cry from last year’s Consumer Analyst Group of New York (CAGNY) conference, when companies were boasting how much they were able
News

Arson causes straw bale fire at Elie

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“I knew this was going to happen some time.” – RCMP spokesperson A fire which destroyed some 200 straw bales at the site of the former Dow BioProducts plant at Elie last week was deliberately set. The Manitoba Fire Commissioner’s office has ruled arson as the cause of the fire and is investigating, a provincial

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