Published:
CHS and Triangle Ag LLC Form Agronomy Partnership
ST. PAUL, Minn., June 24 /PRNewswire-FirstCall/ -- CHS Inc., a leading
energy and grain-based foods company, announced today it has formed a joint
venture with Triangle Ag LLC,Ulen, Minn.
Under the agreement, CHS and Triangle Ag will combine agronomy services
throughout central and east centralNorth Dakota, including construction of a
25,000-ton crop nutrients plant with the ability to receive 110-rail car
shipments nearHannaford, N.D. A crop protection product and seed distribution
center will also be part of the joint venture.
"We look forward to partnering with Triangle Ag to provide producers in
the area with a consistent long-term crop nutrients supply and efficient
operations," said John McEnroe, senior vice president, CHS Country Operations.
"With a significant amount of crop nutrients supply coming from off-shore
locations, we need to be able to quickly, efficiently and economically move
product to producers."
"Consolidating operations will eliminate duplication of assets and add
efficiency for producers," said Wes Roll, general manager and chief operating
officer, Triangle Ag LLC. "This partnership will help us adapt to the dynamic
and changing crop nutrients industry, while giving us the ability to ensure
supply for our producers."
Construction of the crop nutrients facility is expected to begin following
the required permitting process. Plans call for the plant to be completed by
spring 2009. Financial terms were not disclosed.
CHS Inc. (http://www.chsinc.com) is a diversified energy, grains and foods
company committed to providing the essential resources that enrich lives
around the world. A Fortune 200 company, CHS is owned by farmers, ranchers and
cooperatives, along with thousands of preferred stockholders, from the Great
Lakes to the Pacific Northwest and from the Canadian border toTexas. CHS
supplies energy, crop nutrients, grain, livestock feed, food and food
ingredients, along with business solutions including insurance, financial and
risk management services. The company operates petroleum refineries/pipelines
and manufactures, markets and distributes Cenex(R) brand refined fuels,
lubricants, propane and renewable energy products. CHS is listed on the NASDAQ
at CHSCP.
This document contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995 that are based on
management's current expectations and assumptions. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from the potential results discussed in
the forward-looking statements. The company undertakes no obligations to
publicly revise any forward-looking statements to reflect future events or
circumstances. For a discussion of additional factors that may materially
affect management's estimates and predictions, please view the CHS Inc. annual
report filed on Form 10-K for the year ended Aug. 31, 2007, which can be found
on the Securities and Exchange Commission web site (http://www.sec.gov) or on
the CHS web site http://www.chsinc.com.
SOURCE CHS Inc.
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