Bunge Canada is stepping up to buy the North West Terminal LTD. grain elevator at Unity.
Bunge would pay $27 million for the 63-thousand metric tonne grain terminal, with all of the sales proceeds going towards NWT's $42-million debt. The proposed sale does not include the fermentation and distillation business or NWT's ownership interest in the Alliance Grain Terminal at the Port of Vancouver.
North West Terminal's Chief Executive Officer, Jason Skinner, says the facility has not been buying grain for over a year following multiple years of financial losses due to negative grain handling margins and reduced deliveries.
Following a lengthy strategic review process initiated in 2023 and the idling of NWT’s grain elevator, management believes it is in the Company’s best interest to enter into the agreement and sell substantially all of the assets used in its grain business.
Board Chair Brad Sperle says the Board has been working on behalf of the shareholders over the past two years to determine a path forward for North West Terminal that would allow the Company to continue its operations.
"Given the current state of the grain industry and the recent financial results of the Company’s grain division, the Board believes it is in the best interests of the Company and its stakeholders to sell the Company’s grain assets, make a significant repayment of debt and continue to operate the fermentation and distillation business. The Board believes the Proposed Transaction will give the Company’s fermentation and distillation business the greatest chance of success and allow Bunge to ensure the long-term future of grain handling services in the trading area."
A management information circular will be mailed to Shareholders and filed on www.sedarplus.ca by September 26, 2025.
A special shareholders' meeting will be held during the week of October 20th. A minimum of two-thirds of shares will need to vote in favour for the sale to proceed. If approved, the $27 million dollar sale would close on or about October 29th.