March 16, 2012
Viterra acquires Australia's IPS Logistics
Viterra Inc is broadening its Australian grain operations and origination capabilities with the acquisition of IPS Logistics container packing operation in Narrabri, New South Wales.
"The acquisition will complement Viterra's existing grain container operations in southern and eastern Australia," said Dean McQueen, Viterra's executive manager for grain in Australia. "These additional assets in northern New South Wales will allow Viterra to originate and containerise grain beyond our current footprint."
The acquired assets include 75,000 tonnes of storage, a packing facility with the capacity to load more than 10,000 shipping containers annually and integrated rail access to facilities at Port Botany, the second largest container shipping port in Australia.
Viterra currently operates grain container packing facilities at Port Adelaide and Two Wells in South Australia, Laverton and Dooen in Victoria and is currently constructing a container packing facility adjacent to the company's new malt plant near Sydney.
The newly acquired facility at Narrabri will provide access to an additional Department of Agriculture, Fisheries and Forestry ("DAFF") Biosecurity registered establishment for export certification container packing.
"IPS has a history of providing exemplary customer service, which Viterra will strive to build on with our 20 years of experience in packing grain containers in Australia and long-standing relationships with transport providers and shipping lines," said McQueen.
The transaction is pending completion of the customary closing requirements, including approval by the Foreign Investment Review Board (FIRB).