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Alliance Grain to acquire Finora's rail-served processing plants in Canada


Grain processor Alliance Grain Traders Inc. recently reached an agreement to acquire all of Finora Inc.’s assets in Canada for $8.9 million in cash.

Expected to close by year’s end, the transaction involves four rail-served grain processing plants, including two in Wilkie, Saskatchewan, one in Assiniboia, Saskatchewan, and one in Gibbons, Alberta. Alliance Grain also will acquire about 20,000 metric tons of bulk product storage, and certain land and equipment.

The transaction will enable Alliance Grain to “capitalize on excellent rail service” from Canadian Pacific in Wilkie and Assiniboia, and from CN in Gibbons, said President and Chief Executive Officer Murad Al-Katib in a prepared statement.

“The ability to access container shipping from Edmonton adds another logistical advantage,” he said. “The assets add capacity to react to the growing volumes of our core crops — lentils, peas, chickpeas and canary seeds — available to our western Canadian business.”

Contact Progressive Railroading editorial staff.

More News from 12/21/2009