United Grain Growers plans to spend $5.2 million expanding and upgrading its high-volume facilities at Dixon, Sask., and Dundonald, Man.
The addition of 10,400 tonnes of storage at each terminal will more than double their capacity, bringing the total to over 20,000 tonnes each, the company said in a news release.
Part of the $2.75 million expansion at Dixon, built in 1994 west of Humboldt, includes increasing its 52-car spot to 104 cars, installing a 2,000 bushel per hour grain dryer, and upgrading the shipping system.
“At its current size, Dixon has achieved functional maximum capacity,” said Lorne Hadley, UGG Saskatchewan regional manager. “It makes good business sense that we expand it to meet the growing demands of our customers.”
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Dundonald, northwest of Portage la Prairie, Man., will get a $2.44 million upgrade. UGG will extend the driveway, improve the unloading leg capacity and modernize the shipping system. Dundonald’s 62-car spot will be expanded at a later date, when rail shipment opportunities consistently exceed 100 cars.
“Dundonald has a substantial freight advantage for crops moving east so doubling capacity and increasing efficiency is necessary to meet their business needs,” said Jim Gabriel, UGG Manitoba regional manager.
Take-over bid extended
Saskatoon newsroom
The take-over battle by Maple Leaf Foods for Schneider has been extended.
Maple Leaf announced last week its offer for Schneider shares will be in effect until 12:01 a.m. March 10.
Maple Leaf began its take over bid Nov. 14, 1997, offering $19 per share at first. Maple Leaf is now offering $29 per share.
“In light of the ongoing Schneider shareholder litigation, Maple Leaf has decided to extend its offers,” the company said in a release.
Meanwhile, Maple Leaf continued to buy shares of Schneider not held by the Schneider family, which has signed an agreement to sell its 70 percent interest to a U.S. company, Smithfield Foods, for the equivalent of $25 per share. The deal with Smithfield angered some minority shareholders who are now suing Schneider’s board of directors.
Maple Leaf last week purchased 30,400 common shares of Schneider Corp. at prices ranging from $27.50 to $29.00 per share through the facilities of the Toronto Stock Exchange.
Readers choice award
Saskatoon newsroom
Power Pin Inc., a Regina-based maker of implement hitch systems, has received the readers choice award from Farm Industry News, an American farm magazine published in the Midwest.
An article on Power Pin in the magazine generated more reader responses than any other product priced under $5,000, Power Pin said in a news release.
Power Pin is a three-in-one hitch that allows adjustment of the draw pin hole size to match various tractor draw pins.
The other component, the drop-pin hammerstrap, is being used on models of tractors from Case, John Deere and New Holland.
About 115 farm equipment manufacturers use the Power Pin on some or all of their products.
Global trading centre
OMAHA, Neb. (Reuters) – ConAgra Inc. said last week it will build a global trading centre on the company’s property in Omaha, Nebraska, scheduled for completion in April 1999.
The company said it will start building the 140,000 sq. foot facility early this spring. When complete, about 100 jobs will move from its Minneapolis-based ConAgra Grain Cos to Omaha.
ConAgra said the centre will house the vast majority of its commodity and financial trading activities including grains, oilseeds, meats and energy.
“There are business opportunities that can be gained and business opportunities we can leverage by combining our Omaha and Minneapolis trading groups,” said president and chief executive officer Bruce Rohde.
ConAgra is a food company with annual sales of $24 billion and about 82,000 employees and operations in 32 countries.
