ST. PAUL, Minn., Jan. 21, 2015 /PRNewswire/ -- CHS Inc.
(NASDAQ: CHSCP, CHSCO, CHSCN, CHSCM, CHSCL), North America's leading farmer-owned
cooperative and a global energy, grains and foods company, and
Northern Partners Cooperative, Mendota,
Ill., announced today that CHS will build a 47,000 ton
capacity fertilizer warehouse with product blending capabilities
that will be operated by Northern Partners Cooperative. In
addition, the two companies will form a joint venture to build and
operate a grain barge loading facility that will handle corn,
soybeans and wheat for export through the CHS terminal at
Myrtle Grove, La.
Northern Partners Cooperative will use the terminals at
Peru primarily to serve
farmer-owners of its retail business with nitrogen, phosphorus and
potassium fertilizers and to facilitate grain handling. CHS will
serve its nearby cooperative wholesale fertilizer and grain
customers from these facilities.
"These new assets will give our member-owners direct access and
ownership in the supply and distribution chain, bringing them a
step closer to world markets," said Eric
Anderson, general manager, Northern Partners Cooperative.
"These new state-of-the-art facilities will help provide a more
stable, dependable source of crop nutrients, as well as a
cooperative presence in the grain export market which will add
value to our member-owners' farming operations."
"We are pleased to partner with CHS, the nation's leading
cooperative in this venture. While we are very different in size,
our core values are very similar. Both companies work to provide
relevant, valuable products and services to member-owners,"
Anderson said.
Anderson also expressed gratitude to local government officials
for their support and expertise. "We look forward to working with
Mayor Scott Harl and the
City of Peru to bring jobs and
economic development to benefit the Illinois Valley, and we
appreciate their many efforts to help us establish this new
venture," Anderson said.
"CHS is always looking for strategic investments and
partnerships that create additional growth opportunities for its
farmer-owners and this agreement with Northern Partners Cooperative
does just that," said Rick Dusek,
CHS vice president, Ag Business. "It allows CHS to expand its grain
origination with direct Illinois River access and it enables
further growth of our fertilizer business by adding infrastructure
that is critical to timely and reliable fertilizer supply and
delivery."
Construction will begin early in 2015 and is expected to be
completed in the spring of 2016. When the plant is
operational, Anderson said approximately eight new employees will
be hired.
About Northern Partners
Formed in 2009 through the merger of four area cooperatives,
Northern Partners Cooperative (www.northernpartners.net) is a
progressive farmer-owned grain, agronomy and energy cooperative
located in North Central Illinois. Its 70 employees serve more than
900 customers from eight locations in four counties.
About CHS Inc.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned
by farmers, ranchers and cooperatives across the United States. Diversified in energy,
grains and foods, CHS is committed to helping its customers,
farmer-owners and other stakeholders grow their businesses through
its domestic and global operations. CHS, a Fortune 100 company,
supplies energy, crop nutrients, grain marketing services, animal
feed, food and food ingredients, along with business solutions
including insurance, financial and risk management services. The
company operates petroleum refineries/pipelines and manufactures,
markets and distributes Cenex® brand refined fuels, lubricants,
propane and renewable energy products.
This document contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995
that are based on management's current expectations and
assumptions. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from the potential results discussed in the
forward-looking statements. The company undertakes no obligations
to publicly revise any forward-looking statements to reflect future
events or circumstances. For a discussion of additional factors
that may materially affect management's estimates and predictions,
please view the CHS Inc. annual report filed on Form 10-K for the
year ended Aug. 31, 2014, which can
be found on the Securities and Exchange Commission web site
(www.sec.gov) or on the CHS web site www.chsinc.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/chs-and-northern-partners-cooperative-will-form-long-term-agreements-on-grain-and-fertilizer-river-terminals-at-peru-illinois-300023605.html
SOURCE CHS Inc.