By Amanda Brodhagen, Farms.com
The CWB, formerly known as the Canadian Wheat Board, has increased its shares in Prairie West Terminal Ltd. (PWT), a Saskatchewan-based, farmer-owned grain handling company. The marketing agency said Thursday, that it has increased its ownership of PWT, and recently bought 2,394 Class C shares, representing about 10 percent.
With the most recent purchase, CWB now has a 121.1 percent stake in PWT. Prior to CWB’s announcement; it had already owned 500 shares, or about two percent. These shares were through its subsidiary, Mission Terminal Inc.
"CWB has always valued and supported farmers," said CWB president and CEO Ian White. "This investment is a great opportunity to participate in an innovative farmer-owned organization that prioritizes farmers' interests."
The CWB says the move was part of its plan to “position CWB as a strong and viable Canadian-focused grain company that includes farmer ownership,” White said in a Jan. 16 press release.
The PWD shares were acquired by CWB pursuant to a private agreement.