Vol. 105 No. 17
THURSDAY, APRIL 24, 2014
20 pages
$1.25
Bringing news to Biggar and area for 105 years! Box 40, 122 Main Street, Biggar, Saskatchewan S0K 0M0
CWB enters into an
agreement to Acquire Prairie West Terminal CWB and Prairie West Te r m i n a l L t d . ( P W T ) announced last week that they have entered into an arrangement agreement whereby CWB, through a wholly-owned subsidiary, will acquire all of the issued and outstanding common shares of PWT. The deal will excluding shares owned by CWB and its affiliates for cash consideration of $2,109.23 per share, representing aggregate consideration of $43,234,996.54. The transaction offers all PWT shareholders liquidity for their PWT shares at a compelling value. PWT’s board will mail a management information circular containing additional details of the transaction in the upcoming weeks to its shareholders for approval at a meeting expected to be held on or about May 30. PWT’s board of directors,
with the benefit of advice from its financial advisors (including receipt of a fairness opinion) and l e g a l a d v i s o r s, h a v e unanimously determined that the arrangement is in the best interests of PWT and recommend that shareholders vote in favour of the transaction. In making this recommendation the PWT board of directors considered a number of benefits of the transaction, including PWT’s longstanding relationship with CWB, and CWB’s access to export markets and its significant grain marketing experience, which will provide a strong, local competitive option for PWT farm customers. In addition to the arrangement agreement, the directors and senior officers of PWT have each executed agreements pursuant to which they have agreed to support the transaction and vote their PWT shares in favour of the transaction at the upcoming meeting of shareholders of PWT. “ We a r e e x c i t e d t o announce this agreement w i t h P r a i r i e We s t Terminal,” said CWB president and CEO Ian White. “PWT has a solid reputation with its farmer customers, and in the community at large. CWB values farmers in this community and intends to foster the relationships that the organization has built with local farmers and the surrounding community.
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“This purchase strengthens CWB’s growing network of assets across Western Canada and represents the first opportunity farmers will have to deliver grain to a CWB owned elevator.” “ C W B i s a f a r m e roriented company with an established customer network and unsurpassed
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grain and risk management expertise,” said Chad Campbell, CEO of PWT. “As CWB continues to grow its asset network across the Prairies, we’re excited to be a part of that story. There are a lot of changes going on in the industry landscape, and this transaction will bring a very experienced
Going bananas . . . Jessie Montgomery peels a well past its prime banana as instructor Glenda Schmidtke looks on. The Kids in the Kitchen program were turning the
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marketer of grain to the local market, and ensure the continued success of these facilities and local producers in the years to come. The board of directors of PWT sees significant benefit in the transaction to all stakeholders. It offers shareholders a very attractive return on their investment,
and ensures an ongoing, positive presence in our local community.” The purchase of PWT adds to CWB’s existing asset network, which includes Mission Terminal, Les Élévateurs des Trois-Rivières, Services Maritimes Laviolette, and a minority interest in Prairie West Terminal.
mushy fruit into delicious banana bread. (Independent Photo by Kevin Brautigam)
Funding renewed for Grain Bag Recycling program Last week, federal Agriculture Minister Gerry Ritz and Saskatchewan Agriculture Minister
Busy hands . . . Quilters Iris Buxton, left, and Diane Yaroshko pin, measure, fold and create some wonderful and impressive works last week, all in preparation for delivery to some deserving homes. The ladies meet every Thursday to fashion the attractive and functional quilts. This Sunday, they were all blessed at Redeemer Lutheran before being sent on their way. (Independent Photo by Kevin Brautigam)
Lyle Stewart announced $100,000 to extend the Grain Bag Recycling Pilot Project in 2014. The program includes recycling for both grain bags and twine. “The high level of farmer participation in this project demonstrates the importance of responsibly disposing grain bags,” said Ritz, April 16. “Our government is proud to continue to partner with the Government of Saskatchewan to support this program for producers.” “We are pleased to extend the Grain Bag Recycling Pilot Project until a permanent program is implemented,” Stewart said. “With increasing use of grain bags to store the record crop from last year’s harvest, we want farmers to continue to have an option to responsibly dispose of their bags.”
The Grain Bag Recycling Pilot Project was first implemented in March 2011. Since inception, approximately 325,800 kilograms of plastic (2,172 bags) and 6,600 kilograms of twine has been recycled. The Ministry of Environment is currently working on the creation of regulations that will form the basis for an industryled, permanent recycling program for 2015. The Grain Bag Recycling Pilot Project is administered by Simply Agriculture Solutions Inc. (formerly the Provincial Council of Agriculture Development and Diversification Boards) and funded through the federal-provincial Growing Forward 2 framework. “Simply Agriculture Solutions looks forward to continuing to provide an environmentally responsible solution for the
disposal of the grain bags and twine and working with producers across the province as we incorporate additional plastics (silage plastic and net wrap) into the pilot program,” Agricultural Plastic Recycling Coordinator Travis Quirk said. Farmers and ranchers can access collection sites across the province in Cudworth, Hirsch, Humboldt, Kelvington, Macoun, Mankota (twine only), Milestone, Moose Jaw, Mossbank, Oungre, Prince Albert, Rush Lake, Unity and Viscount. If recycling is not an option, producers should check with their nearest landfill to see if they take used grain bags. For more information, producers can contact Simply Agriculture Solutions Inc. toll-free at 1-866-298-7222.