LAC Announces Purchase of Port Colborne Grain Terminal
Commodity volumes and workforce increases stemming from LAC Inc. investment in Seaway traffic
Continuity of grain movements are highlighted with the LAC purchase from Ceres Grain of Port Colborne terminal lands and an existing grain elevator. As volumes grow, the company will be building additional grain storage to support the business.
This announcement comes soon after the recent infrastructure investment announcement by the St. Lawrence Seaway Management Corporation (SLSMC) and the Federal government to invest in a renewal of three wharf locations in Port Colborne adjacent to the Welland Canal.
Under LAC management, all former Ceres Global employees at the terminal will be rehired, maintaining employment levels and retaining the workforce’s knowledge base. It is expected the facility will in time see increased cargo volumes to export markets served by Southern Ontario farming exports of soybeans, wheat and corn.
Domestic carriers will handle tonnage for St. Lawrence River transfer to ocean going Panamax sized vessels, along with expected regular Seaway saltie fleets to reach global markets with Niagara grown crops.
“Supporting the farming sector in Ontario has always been a priority for LAC,” notes LAC Inc. president Richard Smibert. “This strategic move to take ownership of a facility we have previously leased further demonstrates our commitment to the industry and exercises our ability to efficiently plan for more internationally bound cargo shipments.”
The Seaway System provides access to global markets through congestion free available capacity, providing the safest and most reliable mode in supporting Ontario exports.
“The sale of the Port Colborne Facility further enhances Ceres’ strategic partnership with London Agricultural Commodities and aligns with our long-term strategy of optimizing our footprint around our core products and the locations where we operate,” said Ceres CEO Carlos Paz.
The SLSMC is pleased to see the move by LAC and welcomes the additional marine movements in the system. “We expect to work with the team at LAC and highlight their commitment to continuing to buoy the Ontario farming community and use our available capacity,” said SLSMC director of business development Bruce Hodgson.
An iconic terminal location, it is identified by the recognizable Robin Hood Flour logo that remains painted on the silos.
LAC started in July 1985 in London, Ontario. They celebrate 38 years in the Ontario Grain trade this year. London Agricultural Commodities Inc. is a cash grain trading company focused on corn, wheat, soybeans, food grade soybeans and feed ingredients and feed by products. They have 15 Marketing Partners across Ontario and now own 3 locations in Ontario; Thamesville, Tupperville and now Port Colborne.
For more information or for interviews, please contact:
Richard Smibert
LAC
or
Bruce Hodgson
SLSMC