World Grain - May 2023 - 12

NEWS REVIEW
LDC to expand canola facility in Yorkton, Saskatchewan
YORKTON, SASKATCHEWAN, CANADA - Louis
Dreyfus Co. (LDC) said it will expand its canola processing
complex in Yorkton, Saskatchewan, Canada.
Construction of an additional canola crushing line is expected
to start later this year and will more than double the facility's
crush capacity to more than 2 million tonnes per year.
Ardent Mills profits up modestly to new high
CHICAGO, ILLINOIS, US - Earnings remained strong in
the third quarter of fiscal 2023 at Ardent Mills, though earnings
growth slowed from a year earlier.
Data on Ardent Mills' financial results were published April
6 in a Form 10-Q filed with the Securities and Exchange
Commission by Conagra Brands, Inc., which holds a 44%
stake in the nation's largest flour milling company.
Conagra equity method earnings in the quarter ended Feb. 26
Richardson to build new Wesson oil refinery
WINNIPEG, MANITOBA, CANADA - Richardson
International Ltd. will invest $220 million in its Wesson oil
production facility in Memphis, Tennessee, US, as part of a
multiphase project that will replace the oil production plant
with a new refinery to fulfill customer requirements and meet
growing global demand for vegetable oil.
When completed, the refinery will modernize the site
and significantly increase production and refining capacity,
Grains Australia, AEGIC to join forces
CANBERRA, AUSTRALIA - Grains Australia and the
Australian Export Grains Innovation Centre (AEGIC) announced
on April 18 plans for an integration and alignment
between the two organizations to deliver more efficient and
effective services for Australian grain growers.
They said the integration will drive collaboration, improved
coordination and streamline and deliver efficiencies across the
key areas of classification, trade and market access, market
GRAIN COOLING
GRANIFRIGOR™
LDC has operated the facility, which employs about 120
people, since 2009. It produces food grade canola oil and feed
meal.
The facility is located in Canada's most productive agricultural
zone, where canola is the dominant crop. It benefits from
dual rail and good road infrastructure, LDC said.
were $50.5 million, up 5% from $48.1 million in the same period
a year earlier. Equity method earnings in the third quarter of fiscal
2022 in turn were up 124% from the year before. The thirdquarter
results also topped profits of $49.3 million in the second
quarter of fiscal 2023 and $49.2 million in the second quarter.
Cargill also owns 44% of Ardent Mills, while CHS owns 12%.
Year-to-date equity method earnings at Conagra were $149 million,
up 52% from $97.8 million in the first three quarters of fiscal 2022.
Richardson said in its April 14 announcement. Improved efficiencies
also will drive substantial reductions in water, energy,
and wastewater volumes, aligning well with Richardson's
focus on responsible and sustainable business operations.
Richardson purchased Wesson, a leading US retail brand
of canola, corn and vegetable cooking oils, from Conagra
Brands Inc. in 2019. The purchase included Wesson's
280,000-square-foot Memphis production facility.
information and education and customer insights and innovation
for the Australian grains sector.
Under the new structure, investment from GRDC will come
through Grains Australia to AEGIC. While Grains Australia
will use AEGIC's offices where it presents efficiency, AEGIC's
Western Australia (Perth) and New South Wales (Sydney)
technical capacity will be maintained and adapted to deliver
on the strategic objectives of AEGIC and Grains Australia.
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12
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May 2023 / World Grain / www.World-Grain.com
http://www.frigortec.com
World Grain - May 2023

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