CWB adds to holdingCWB, formerly known as the Canadian Wheat Board, has expanded its ownership stake in a west-central Saskatchewan grain handling organization.
By: Jonathan Knutson, Agweek
CWB, formerly known as the Canadian Wheat Board, has expanded its ownership stake in a west-central Saskatchewan grain handling organization.
CWB announced on Jan. 16 that it has purchased 10.2 percent of the shares of the farmer-owned Prairie West Terminal Ltd. Previously, CWB, through Mission Terminal Inc., a wholly owned subsidiary, owned about 2 percent of Prairie West Terminal. Between the two holdings, CWB now has 12.11 percent of Prairie West Terminal shares.
“CWB has always valued and supported farmers,” CWB president and CEO Ian White said in a prepared statement. “This investment is a great opportunity to participate in an innovative farmer-owned organization that prioritizes farmers’ interests.”
According to the Prairie West Terminal website, the organization has five locations, more than 30 employees and handles more than 420,000 metric tons of grain annually.
In 2012, the Canadian Wheat Board monopoly on wheat and barley sales in western Canada ended. The organization, renamed CWB, must present a plan for privatization to the government by 2016 and have the plan completed no later than 2017.
CWB has said it intends to beat the deadline.
As part of the transition, CWB hopes to build its own grain-handling network. In November, CWB bought the grain handling assets of Upper Lake Group. One of those assets was Mission Terminal Inc., which has a terminal in Thunder Bay, Ontario.
CWB continues to offer a wide array of marketing programs and services to Canadian farmers. It’s branching out into other crops, including peas.