CHS acquires fertilizer business from Terral RiverService, Inc.
ST. PAUL, Minn. , Feb. 7, 2014 /PRNewswire/ -- CHS Inc. (NASDAQ: CHSCP and CHSCO), the nation's leading farmer-owned cooperative and a global energy, grains and foods company, today announced it has acquired the fertilizer business and related fertilizer assets of Terral RiverService, Lake Providence, La. Terral RiverService is a river transportation service company specializing in the bulk storage and handling of dry and liquid materials along the Mississippi River system, the Gulf Intracoastal Waterway and inland waterways of Louisiana and southern Arkansas.
CHS will integrate nine Terral RiverService locations, including eight river terminals, into its existing crop nutrients business. CHS is a leading wholesale distributor of crop nutrients to locally-owned cooperatives and independent farm supply retailers across the U.S.
"This acquisition aligns with CHS growth plans for strategic business and infrastructure expansion into the lower Mississippi River region," said Cheryl Schmura, CHS vice president, crop nutrients. "CHS will serve agricultural supply dealers throughout the region with a full range of dry and liquid N-P-K and specialty fertilizers, backed by global fertilizer supply and logistics expertise."
Thirty-six employees of Terral RiverService will become CHS employees. Former Terral RiverService fertilizer customers are being personally notified of the ownership change.
"CHS was the right fit as we considered companies that could take this part of our business to the next level," said Tom Gattle, Terral RiverService co-founder, president and CEO. "We are so proud of how our employees helped us grow the fertilizer business over the past 22 years. We are confident that CHS will further improve operations and services, creating an overall positive impact on our communities."
Terral RiverService will retain ownership of its port and marine operations, aggregates and cottonseed businesses.
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.
About Terral RiverService, Inc.
Terral RiverService, Inc. was formed in 1992 by Tom Gattle and John Terral through a merger of two companies. Since then, the company has grown steadily, adding and upgrading facilities throughout the Lower Mississippi region. Through its storage capacity, push boat and river barge fleets and strategically-located port operations, it is well-positioned to serve the needs of agricultural and industrial customers.
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, 2013, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS web site www.chsinc.com.
SOURCE CHS Inc.