The Executive Director of the Grain Growers of Canada says the speed the Glencore International-Viterra Deal came together in the New Western Canadian Marketing Environment did come as a bit of a surprise.
Richard Phillips tolds us the $6.1 Billion deal bodes well for the future strength of the industry, “And it shows that not only do we think that leading farm orginizations but it's clear that alot of the agricultural industries and people over sees look at Canada as a great place to invest and a place for opportunity going forward as well. So it's good to see our own sense of optimism is also backed up by others.”
Phillips spoke with Chris Mahoney, Director of Agricultural products of Glencore earlier this week, “He was crystal clear that it was their full intention to lead the head office in Regina, he said it was not our model to try and move stuff over to Europe or anything. Their business model is to do business in the country and to be good corporate citizens, and to continue working with farm groups like The Grain Growers of Canada on developing our domestic policies and improving the market enviorment. So we actually had a great deal of confidense following the conversation with Glencore that they intend to be good corporate citizens here in Canada.”
As for the competitive landscape, Phillips believes this will level the playingfield regarding grain handling.
The organization has received some concerns from farmers regarding the concentration of ownership on the farm inputs side of the deal.
Agrium will acquire the majority of Viterra's retail agri-products business, meaning the company will have 30 percent of th efarm input business in Western Canada.
Sat, Apr 20, 1:00 PM
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