World Grain - October 2021 - 16

NEWS REVIEW
G3 to build two new grain elevators
WINNIPEG, MANITOBA, CANADA - G3 has announced
plans to build two new high-efficiency grain elevators in
Alberta and Saskatchewan. The elevators will be located
in Rycroft, Alberta, Canada, and Melfort, Saskatchewan,
Canada, on the CN Railway.
Both facilities will have 42,000 tonnes of capacity and a
railway loop track that can accommodate a 150-car unit train,
G3 said. The elevators also will be able to unload a Super-B
truck in less than five minutes, the company said.
Saudi Arabia adds grain storage
RIYADH, SAUDI ARABIA - The Saudi Grains Organization
(SAGO) recently completed construction of two new silos
with storage capacity of 120,000 tonnes, lifting grain storage
capacity in the country by approximately 37%, according to
Arab News.
Dubbed the Yanbu Silos Project, the $97 million development
project is part of the larger National Transformation
Bob's Red Mill elevates CFO to CEO
MILWAUKIE, OREGON, US - Trey Winthrop has been
named incoming chief executive officer of Bob's Red Mill.
He will succeed Dennis Vaughn, who is retiring after three
years at the helm.
Winthrop has been with Bob's Red Mill for more than 16
years and is currently chief financial officer, a position he has
held since September 2015. He will remain CFO until the
company finds a replacement, which is expected to occur in
early 2022. In the meantime, Robert Agnew, former senior
vice president of sales, will serve as acting CEO and chairman
of the board of directors.
Winthrop joined Bob's Red Mill in March 2005 as director
of corporate finance. Over the past 16 years he has helped
LDC completes sale of equity stake to ADQ
ROTTERDAM, NETHERLANDS - Louis Dreyfus
Company Holdings BV (LDC) announced on Sept. 10 the
completion of the sale of an indirect 45% equity stake in
LDC to Abu Dhabi-based ADQ, one of the region's largest
holding companies.
It marks the first time in the private company's 170-year
history that it will operate with ownership outside the family.
LDC announced its intention to sell the equity stake to ADQ
last November.
" The transaction completed today represents the start
of a new chapter for LDC, as we welcome ADQ into our
shareholder group and initiate a new phase of growth for
the company, guided by a shared vision for LDC's future, "
said Margarita Louis-Dreyfus, chairperson of the company's
supervisory board.
LDC said it remains focused on putting its strategy into
16
expand the brand into new product categories, including
snack and convenience, while maintaining leadership in
whole grains, stone-ground flours, hot and cold cereals and
baking mixes. More recently, he's championed the creation of
new, forward-looking roles at the company, including director
of innovation, sustainability manager and a DEI specialist, the
company said.
Vaughn will be retiring after a 22-year career with Bob's
Red Mill. He joined the company in 1999 as director of operations
and later was elevated to senior vice president of operations
and chief operating officer in 2013. In August 2018 he
was named CEO, taking over a role that had been filled by
Moore for 40 years.
action, while fulfilling its key role to keep essential agricultural
product supply chains moving safely, reliably and responsibly.
It said a portion of the transaction proceeds has
been invested into LDC, in the form of an early and full repayment
of a $1.05 billion intragroup long-term loan granted
by LDC to its parent company, originally maturing in 2023.
These funds will support the pursuit of the company's
long-term business plan and strategy.
The transaction price was not disclosed but the companies
in November said a minimum of $800 million will be
invested into LDC.
ADQ's broad portfolio of major enterprises spans multiple
sectors, among them food and agriculture. As part of its
strategy for the sector, the company said it seeks to generate
financial returns and strengthen the economic cluster in
the UAE.
October 2021 / World Grain / www.World-Grain.com
Program currently underway in Saudi Arabia.
According to Arab News, the Yanbu Silos Project also includes
equipment for unloading ships with a capacity of 1,000
tonnes per hour and an operating tower with equipment to
transfer and distribute grains inside the silos.
A similar project is now planned for the Duba port, the Arab
News reported.
" We are excited to extend our network of high-efficiency
facilities to the farming communities around Rycroft and
Melfort, " said Don Chapman, chief executive officer of G3.
" G3 is keeping grain moving to market, and that means more
delivery opportunities for our farmer customers, and faster
service, which saves farmers time and money. "
Construction on the elevators will begin later this year,
pending final regulatory approvals, with completion expected
in early 2023.
http://www.World-Grain.com
World Grain - October 2021

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