A group of Alberta farmers is taking advantage of Agricore United’s
forced sale of grain elevators to start their own grain company.
The Providence Grain Group Inc. has bought AU’s three-year-old, steel
grain elevator at Gaudin, which can handle units of 52 rail cars, and a
20-year-old crib elevator at Waskatenau, both northeast of Edmonton.
“We intend to operate it as a fully licensed and bonded grain company,”
said Milt Miller of Fort Saskatchewan, Alta.
Miller said the farmers would operate the new grain company as a new
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generation co-op, which allows a company to raise money through the
sale of shares to non-members.
Once the sale is final July 31, the group intends to have a share
offering to raise operating money.
The sale of the Gaudin elevator fulfills one of the requirements of the
federal competition bureau that AU sell several elevators. The sales
were made necessary by the merger of Agricore and United Grain Growers.
“While we are disappointed to be selling Gaudin, we are pleased that it
is being acquired by a group of local producers,” Ron Enns, managing
director of country operations for AU said in a News release
news.
AU has high throughput elevators at nearby Acheson and Star.
