G3 plans to develop coast-to-coast grain processing and shipping network
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The federal government has announced the approval of a deal reached between the Canadian Wheat Board and G3 Global Grain Group, which the government says ensures CWB becomes a fully private and global competitor in the Canadian grain sector._x000D_
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The deal will see the investor, a new Canadian company headquartered in Winnipeg, invest $250 million in CWB, with plans to develop a coast-to-coast grain processing and shipping network across Canada. Once fully realized, the growth associated with this deal is expected to increase Canada’s grain export capacity and add hundreds of jobs and hundreds of millions of dollars of economic growth across the Prairies, agriculture minister Gerry Ritz says._x000D_
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“Our commitment to marketing freedom and increasing marketing choice has always been about giving farmers the right to sell their own grain to a buyer of their choice. The removal of the CWB monopoly attracted numerous investors wanting to expand Canada’s grain capacity and supply chain,” Ritz says. “This investment deal offers Canadian farmers access to a new global player to compete for their grain and more delivery points for farmers to sell their grain.”_x000D_
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The CWB will offer farmers the opportunity to build significant equity in a growing grain company by delivering their grain, according to CWB president and CEO Ian White. Canadian farmers have the opportunity to financially participate in CWB through the continuation of the Farmer Equity Plan._x000D_
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“This deal will enable the CWB to continue to expand its network. CWB’s investments to date translate into hundreds of millions of dollars in new investment and hundreds of jobs across Canada,” White says. “It also establishes a major new player in the Canadian grain industry well into the future, and we look forward to furthering our relationships with farmers across Canada.”
