ST. PAUL, Minn., March 1, 2011 /PRNewswire/ -- CHS Inc. (Nasdaq: CHSCP), a Fortune 100 energy, grains and foods company, has announced letters of intent with local grain partners to build state-of-the-art shuttle train loading elevators in Montana, Nebraska and North Dakota, with completions estimated over the next 12 to 18 months.
"The CHS commitment to growers includes endeavors like this where we reinvest back into our communities," said John McEnroe, senior vice president, Country Operations division of CHS. "With new or updated facilities, producers in these communities not only get faster service when they need to move their grain, but they will also benefit from increased market access, particularly to export customers served out of the Pacific Northwest.
"It's a very tangible way CHS returns value to its member-owners," he adds.
CHS Country Operations has a preliminary agreement for construction in place with Farmers Union Elevator Co., New Salem, N.D. There is also an agreement between All Points Cooperative, Gothenburg, Neb.; Farmers Cooperative Grain Company, Merna, Neb.; and the CHS Agri-Service Center, Holdrege, Neb.; for a facility in the Custer County area. In addition, CHS has expansion plans to accommodate 110-car trains at its Kershaw, Mont., location as well as its facility in Lakota, N.D., operating under Lake Region Grain.
Facilities will all be located on a BNSF rail line and first construction could start as early as May 2011.
CHS Inc. (http://www.chsinc.com/) is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 100 company, CHS is owned by farmers, ranchers and cooperatives, along with thousands of preferred stockholders across the United States. CHS supplies energy, crop nutrients, grain, livestock 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. CHS is listed on the NASDAQ at CHSCP.
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, 2010, 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.