World Grain - January 2022 - 10

NEWS REVIEW
CGB, MnSP form joint venture
COVINGTON, LOUISIANA, US - CGB Enterprises, Inc.
(CGB) and Minnesota Soybean Processors (MnSP) announced
they are forming a joint venture for the construction of a soybean
processing plant near Casselton, North Dakota, US.
North Dakota Soybean Processors, LLC, jointly owned by
Covington, Louisiana, US-based CGB and Brewer, Minnesota,
US-based MnSP, will own and operate the new facility, which
is expected to crush 42.5 million bushels of soybeans in the first
year, providing a more competitive and viable market within
North Dakota for production that previously left the state.
" This is an exciting project that has been in the works
since 2019, " said Steve O'Nan, senior vice president of CGB
Soybean Processing. " This state-of-the-art soybean processing
plant is a commitment to North Dakota agriculture. Its
strategic location will produce soybean meal for the livestock
industry and food grade soybean oil to service the rising demand
of food users and also the renewable fuel industry. "
Jeramie Weller, general manager of MnSP, said the new
soybean processing plant will complement its soybean processing
facility in Brewster.
Star of the West makes acquisition
FRANKENMUTH, MICHIGAN, US - Star of the West
Milling Co. has announced it is acquiring Citizens LLC, a
Michigan-based grain handler, agronomy supplier and global
exporter. The acquisition aims to bolster Star of the West's
capabilities across several key areas, including grain receiving
and marketing, agronomy services and food-grade soybean
exports, the company said.
" This acquisition brings together two successful companies
that share strong Michigan roots, global business relationships
and a track record of success serving our farmers, customers
and employees, " said Jim Howe, president and chief executive
officer of Star of the West Milling Co. " With much in
common between our two companies, this acquisition aims to
leverage shared areas of expertise to deliver strong results and
continue growing Michigan agriculture. "
Bob Mansfield, founder and president of Citizens, praised
Star of the West for its sustained excellence.
" Star of the West Milling Co. is one of the oldest and most
respected, successful independent agricultural businesses
in Michigan, " Mansfield said. " Star of the West is a local
company known for being good stewards of their customers,
employees, and Michigan farmers, and I am proud to have
them build on the success we have achieved at Citizens since
1987. "
Howe noted Star of the West and Citizens have achieved
success in many of the same areas over the years - including
in wheat handling, crop nutrient supply, non-GMO soybean
marketing, and deployment of cutting-edge agronomic
technology.
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" The combination of these assets well positions us to meet
demand, domestically and globally, for meal and oil, while
providing a consistent, competitive market for locally grown
soybeans for local farmers, " he said.
Groundbreaking on the plant is slated for this spring, the
companies said, with plans to have the facility fully operational
in 2024, subject to various federal, state, and local permitting,
infrastructure, and incentive approvals. The project is
expected to create 50 to 60 new jobs once fully operational.
CGB has a soybean processing plant in Mount Vernon,
Indiana, US, that was built in 1997 and recently underwent
a significant expansion to increase its soybean processing
capacity. The company has additional grain elevator assets
strategically located throughout the United States with access
to rail, truck and barge transportation, as well as other complementary
businesses within the agriculture and transportation
industries.
MnSP's soybean processing facility in Brewster started
crushing soybeans in 2003 and added a biodiesel refining facility
in 2005.

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World Grain - January 2022

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