G3 Global Grain Group completes investment in CWB
July 31, 2015 - St. Louis, Missouri - G3 Global Grain Group (G3), a newly established agribusiness joint venture based in Winnipeg, Manitoba, Canada, today announced a successful close to its investment in CWB which secures a majority interest in the company. CWB will be combined with the grain assets of Bunge Canada to form a new Canadian agribusiness, G3 Canada Limited.
“Combining the local market presence and global expertise of CWB and Bunge Canada Grain provides the opportunity to fulfill a promise to Canadian producers – to create a new and competitive alternative for the marketing of their grain,” says Karl Gerrand, G3 CEO. “The name change to G3 Canada Limited represents another step towards our vision of building a highly efficient coast to coast grain handling enterprise, and I welcome the opportunity to work with the dedicated teams from G3, Bunge Canada and CWB, who have worked so hard to bring these transactions to a successful conclusion.”
Ian White, CWB President and CEO, led the organization through the transformational process, and is gratified with the investment outcome. “CWB is pleased to complete the initiative to commercialize. The capital investment G3 brings, as well as extensive operational experience, is a huge benefit to the sector, and we are pleased that Canadian grain producers will be able to continue to participate in the growth of the new company.”
About G3 Canada Limited
G3 Canada Limited, a newly formed agribusiness, is establishing a highly efficient coast-to-coast Canadian grain enterprise designed to provide a unique competitive alternative to farmers, and superior service to customers and stakeholders. G3 Canada’s assets range from inland grain and deep-sea port terminals stretching from Leader, Saskatchewan to Québec City, Québec, to Great Lake grain transport vessels and a fleet of grain hopper cars. The vertical integration of these assets along the agricultural commodity chain forms the basis of a smarter path from Canadian fields to global markets. G3 Canada Limited is a Canadian company and is headquartered in Winnipeg, Manitoba
About G3 Global Grain Group
G3 Global Grain Group (www.G3Canada.com) is a joint venture of Bunge Canada and SALIC Canada Limited, a wholly owned subsidiary of Saudi Agricultural and Livestock Investment Company (SALIC). Bunge Canada is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the animal feed, food processor, foodservice and bakery industries. SALIC, a joint stock company based in Riyadh, Saudi Arabia, is building a global agribusiness by investing in greenfield and existing ventures.
About Bunge North America
Bunge North America (www.bungenorthamerica.com), the North American operating arm of Bunge Limited (NYSE: BG), is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the animal feed, food processor, foodservice and bakery industries. With headquarters in St. Louis, Missouri, Bunge North America and its subsidiaries operate grain elevators, oilseed processing plants, edible oil refineries and packaging facilities, and corn, wheat and rice mills in the U.S., Canada and Mexico.
About Bunge Limited
Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company operating in over 40 countries with approximately 35,000 employees. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat, corn and rice to make ingredients used by food companies; and sells fertilizer in South America. Founded in 1818, the company is headquartered in White Plains, New York.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “plan,” “intend,” “estimate,” “continue” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The following important factors, among others, could affect our business and financial performance: industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products used in our business; fluctuations in energy and freight costs and competitive developments in our industries; the effects of weather conditions and the outbreak of crop and animal disease on our business; global and regional agricultural, economic, financial and commodities market, political, social and health conditions; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, dispositions, joint ventures and strategic alliances, including the closing of the transaction discussed in this press release; our ability to achieve the efficiencies, savings and other benefits anticipated from our cost reduction, margin improvement and other business optimization initiatives; changes in government policies, laws and regulations affecting our business, including agricultural and trade policies, tax regulations and biofuels legislation; and other factors affecting our business generally. The forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
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