Viterra Supply Agreement With PCC
TORONTO - Jan 5/15 - SNS -- Viterra has entered into a supply and marketing agreement with Pacific Coast Canola LLC ("PCC") which will see PCC crush canola for Viterra at PCC's plant located at Warden, Washington.
In addition, an affiliate of Viterra, Glencore Grain Investment LLC, has increased its ownership in PCC to 50% for no cash consideration, and concurrently entered into an amended and restated Limited Liability Operating Agreement with McKinstry Holdings, Inc., who has acquired the remaining 50% ownership in PCC.
Legumex Walker had owned an 84% stake in PCC, but sold that to Glencore and McKinstry for no cash consideration. As part of the deal, Legumex Walker was released on any liabilities by PCC's main secured lenders and lien registrant.
PCC's facility, opened in 2013 and is the largest expeller-press canola processing facility in North America with the capacity to crush 1,100 metric tons (MT) per day. It produces a variety of healthy canola oils, including non-GMO, Halal and Kosher certified, to meet demand from leading food manufacturers and distributors, and also produces meal products that are sold into the dairy cattle and other livestock markets.
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