Winnipeg, Manitoba
December 16, 2005
Agricore United
today announced it has acquired the key assets of Mattinson Farm
Services Ltd. (MFS), a full service crop production business in
Viking, Alberta with an expected closing date of December 23,
2005. The acquisition will enhance Agricore United's existing
grain operation in the Viking area. Financial terms of the
transaction were not disclosed.
"Agricore United has a very successful steel high throughput
elevator in Viking that is part of the Agricore United long term
grain handling network," says Ron Enns, Senior Vice President,
Operations, Agricore United.
"With the addition of a full service crop inputs business, we'll
be able to meet all of our customers' crop production and
marketing needs."
Mattinson Farm Service Ltd. offers dry bulk fertilizers,
anhydrous ammonia, a full line of crop protection products and
custom spraying services, a full line of bagged and bulk seed
products complete with seed treatment services, and agronomic
consulting services. Agricore United will be retaining key staff
from MFS, with strong agronomic backgrounds and experience in
grain and agro sales and services, as well as retaining the
services of the vendor, Rod Mattinson.
"MFS has been a leader in the Viking marketplace, with a
tradition of providing superior customer service and agronomic
advice," says Enns. "That's a tradition we intend to continue
under Agricore United."
Mattinson, a long time local businessman and farmer in the
Viking area, says the business he and Georgina Mattinson have
built over several years will benefit from its new ownership.
"We're confident in and excited about the future of agriculture
and believe the sale of the crop production business to Agricore
United will enable MFS customers to receive a more complete
range of services in the future," says Mattinson. "We would like
to thank our many customers for their past patronage and look
forward to working with them through Agricore United."
Agricore United is one of Canada's leading agri-business with
headquarters in Winnipeg, Manitoba and extensive operations and
distribution capabilities across western Canada. Agricore United
uses its technology, services and logistics expertise to
leverage its network of facilities and connect prairie-based
agricultural customers to domestic and international customers
and suppliers. The company's operations are diversified into
sales of crop inputs and services, grain merchandising,
livestock production services and financial services. Agricore
United's common shares are traded on the Toronto Stock Exchange
under the symbol "AU.LV". |