Cargill takes over Terminal 22; Viterra joins carbon business
Cargill takes over Terminal 22
Cargill Ltd. is assuming full ownership of Terminal 22 at Balcarres, Sask.
The 10-year-old terminal was a joint venture of Cargill and T22 Holdings, owned by local shareholders.
A large majority of the approximately 650 shareholders of T22 Holdings Ltd. voted to accept Cargill’s offer at a recent shareholder meeting, said a news release.
The facility has eight full-time employees and 32,000 tonnes of storage.
In June 2006, Cargill took over managerial responsibilities for the facility. Leaders of both organizations said the acquisition marks a natural progression of events in advancing the facility’s growth.
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Viterra joins carbon business
Viterra Inc. has created a carbon credit program and has signed a 10 year agreement to supply carbon offset credits to Enmax Energy Corp., an electricity retailer in Alberta.
Under Alberta’s carbon trading system, large carbon emitters want large quantities of credits that individuals can’t supply.
Viterra buys and aggregates carbon offset credits from many Alberta farmers, allowing them to be sold in the desired volume.
Credits are amassed based on the Alberta government’s protocols for tillage system management. They are generated through no-till or reduced-till practices on their agricultural land, which decrease greenhouse gas emissions.
