ST. PAUL, Minn., July 31, 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,
announced today it has acquired Northstar Agri Industries canola
processing and refining plant near Hallock, Minn., from PICO Northstar Hallock
LLC, a majority-owned subsidiary of PICO Holdings, Inc.
The Hallock canola plant
processes more than 400,000 tons of canola seed annually into
canola oil and canola meal.
"Acquisition of Northstar Agri Industries adds value to CHS
owners across the enterprise from inputs to value-added processing
ingredients to the marketplace," said Tom
Malecha, CHS vice president, Processing and Food
Ingredients. "Specifically, the acquisition expands our oilseed
processing platform to include canola in addition to soybeans, adds
to CHS presence in Canada, expands
CHS oil product offerings to global food companies, and links
growers purchasing canola seed from CHS-owned retail outlets to an
integrated supply chain."
Neil Juhnke, president, Northstar
Agri Industries, said CHS was a good fit because it is a
financially strong, farmer-owned cooperative with Minnesota roots that is committed to growth
and profitability. "The new ownership structure adds security and
many value-added opportunities for canola growers in our region,"
said Juhnke.
The Hallock facility will be
rebranded as CHS and the 57 employees at the Hallock plant will become CHS employees.
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 and other CHS Inc. publicly available documents
contain, and CHS's officers and representatives may from time to
time make, "forward–looking statements" within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Report Act of 1995. Forward–looking statements can be identified by
words such as "anticipate," "intend," "plan," "goal," "seek,"
"believe," "project," "estimate," "expect," "strategy," "future,"
"likely," "may," "should," "will" and similar references to future
periods. Forward–looking statements are neither historical facts
nor assurances of future performance. Instead, they are based only
on CHS's current beliefs, expectations and assumptions regarding
the future of its businesses, future plans and strategies,
projections, anticipated events and trends, the economy and other
future conditions. Because forward–looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of CHS's control. CHS's actual results and
financial condition may differ materially from those indicated in
the forward–looking statements. Therefore, you should not rely on
any of these forward–looking statements. Important factors that
could cause CHS's actual results and financial condition to differ
materially from those indicated in the forward–looking statements
are discussed or identified in CHS's public filings made with the
U.S. Securities and Exchange Commission, including in the "Risk
Factors" discussion in Item 1A of CHS's Annual Report on
Form 10–K for the fiscal year ended August 31, 2014. Any
forward–looking statements made by CHS in this document are based
only on information currently available to CHS and speak only as of
the date on which the statement is made. CHS undertakes no
obligation to publicly update any forward–looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/chs-acquires-northstar-agri-industries-canola-processing-plant-300121955.html
SOURCE CHS Inc.