9th May 2016
Agrocorp International Pte Ltd, a Singapore based agri commodities trading firm is pleased to announce expansion plans in Canada.
The company has entered into a purchase agreement with Veikle Grain Ltd in Canada. Located in the town of Cut Knife in northern Saskatchewan, the plant is designed to handle grains, pulses, and oilseeds sourced from the surrounding farming community. The plant is also located along a main Canadian Pacific Railway (CP) line will facilitate easy transfer of the goods into the main ports. Following the purchase and subsequent upgrades, the 10m SGD facility is expected to handle 80,000 metric tons (MT) of product in a year. Veikle Grain, founded by Carl Veikle, is a pillar of the local grain producer’s community that Agrocorp has been proud to associate itself with. Agrocorp is looking forward to developing more such relationships and expanding our network in the North Western Saskatchewan area. Agrocorp would like to also like to thank CP for being a firm supporter of this transaction
This is the fourth plant for Agrocorp in Canada in addition to existing facilities at Moose Jaw, Falher and Innisfail. Moose Jaw is Agrocorp’s largest facility with an annual throughput capacity of 250,000
MT and is able to load up to 50 rail cars. The Innisfail and Fahler plants are smaller scale facilities at 80,000 MT and 100,000 MT respectively. The purchase of Veikle grain makes Agrocorp one
of the leading agricultural players in the Canadian market with a total processing volume exceeding 400,000 MT.
Colin Topham, Managing Director of Agrocorp Canada says, “We continue to accelerate our bulk vessel and containerized business in Canada, both in major grains and specialty crops. With the United Nations declaring 2016 the international year of pulses, Canadian growers are stepping up to meet the challenge of fast growing international demand by planting more and more acres. As Canada transitions to become the major supplier of protein for the world’s growing population, we at Agrocorp are excited to be a part of this story.”
Vijay Iyengar, Managing Director of Agrocorp International says, “2015 was a strong year of sustained growth for Agrocorp International and we are happy to commence 2016 with the announcement of a new investment into Canada. Agrocorp has been doing business in Canada and for the last 25 years and we are looking forward to intertwining our own growth with the local agricultural community there. The work does not stop here and we hope to announce more such acquisitions in the near future.”
Agrocorp International Pte. Ltd. is a multinational agricultural trading company with presence in 13 countries. It is one of the largest grains and pulses trading houses in the world, specialized in exporting, trading, and processing a diverse array of agricultural commodities. Agrocorp handles over 5 million metric tons of commodities including sugar, grains, pulses, rice, oilseeds, cotton, raw cashew, trading across international markets each year and has an annual turnover in excess of 2 billion SGD.
For more details visit www.agrocorp.com.sg
Ms Chandni Gandhi, Marketing & Communications Manager
Tel: + 65 6578 7110 HP: + 65 8249 5341
10, Anson Rd, international Plaza, #34-04/05/06, Singapore – 079903