Viterra Inc. and the Montreal Port Authority said they have signed a definitive agreement for Viterra to lease and operate the port authority’s grain terminal.
The terminal is a Canadian Grain Commission-licensed transfer elevator that operates year-round and has a storage capacity of 262,000 tonnes. It connects directly to both CN and CP rail networks and provides direct shipping routes to various destinations in Canada, the U.S. and Europe.
“This terminal is an excellent strategic fit within our North American grain-handling and marketing operations,” said Bob Miller, Viterra’s senior vice-president of North American grain. “Its ideal location enhances our ability to expand Viterra’s origination and merchandising capabilities in both Canada and the U.S., and it provides a wide range of logistical options to support efficient movement of high-quality bulk and containerized food ingredients to key domestic and international markets.”
The agreement was signed following a selection process led by the port authority and successful due diligence conducted by Viterra.
“Our agreement with an agri-business company that specializes in grain such as Viterra will make it possible to consolidate and increase grain traffic at the Port of Montreal and enable the grain terminal to improve its competitive position while still providing high-calibre service to Quebec grain producers,” said Sylvie Vachon, the port authority’s president and CEO.
“Our grain terminal will now be run using the same business model as our other terminals – that is to say by a specialized private operator, which will contribute greatly to its future success.”
Viterra will assume full operation of the terminal by July 1.
Viterra provides ingredients to leading global food manufacturers. Headquartered in Canada, its global agri-business has extensive operations across the country and in the U.S., Australia and New Zealand. Its international presence also extends to offices in Japan, Singapore, China, Switzerland, Italy, Ukraine, Germany and India.