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.
SOURCE CHS Inc.