Viterra Inc. has announced it has entered into an agreement to buy the largest oilseed processing plant in Eastern Canada from Malaysia’s Felda Global Ventures Holdings Bhd for C$190 million (US$143.43 million).
The deal to sell the TRT-ETGO plant in Bècanour, Quebec is part of Felda’s strategic plan to cut costs and boost revenues, as it transforms itself into one of the largest agribusinesses in the world according to a company statement.
The TRT-ETGO plant has a canola and soybean crushing capacity of 1.05 million tons per year, producing vegetable oil for both human consumption an industrial applications, and meal for livestock feed. The acquisition, which is expected to close this year, will add to Viterra’s existing plant in Western Canada in Ste. Agathe, Manitoba.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at email@example.com.