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CHS AND LANSING TRADE GROUP FORM GRAIN MARKETING JOINT VENTURE
ST. PAUL, MINN. (Aug. 22, 2008) – CHS Inc. and Lansing Trade Group, LLC, Overland Park, Kan., announced today they have formed a grain marketing joint venture, Erskine Grain Terminal, LLC, located in Erskine, Minn. Built in 2006, the facility has storage capacity of over one million bushels and handles more than 12 million bushels of spring wheat, corn and soybeans annually. Erskine Grain Terminal is a main line BNSF, 110-rail car shuttle loading facility.
“We look forward to providing customers in northwestern Minnesota with a competitive market for their grain along with a full range of marketing programs and services,” said John McEnroe, senior vice president, CHS Country Operations.
“This relationship combines the strong international and domestic capabilities of both companies. This joint venture and its high speed, efficient facility will allow us to provide area producers access to world markets through Duluth and Superior export terminals as well as the Pacific Northwest or any domestic location,” said Bill Krueger, president and chief executive officer, Lansing Trade Group, LLC.
Doug Derosier has been named general manager of the operation and will begin his duties Sept. 1, 2008. Derosier is a 27-year veteran of the grain industry and has managed several cooperative elevators in northern Minnesota. Most recently he spent 11 years as general manager of Oklee Farmers Cooperative Elevator Association, Oklee, Minn. “I’m looking forward to working with producers and grain elevators in the area. We have an outstanding facility that will allow us to run a very efficient operation,” said Derosier.
About CHS Inc.
CHS Inc. (www.chsinc.com) is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 200 company, CHS is owned by farmers, ranchers and cooperatives, along with thousands of preferred stockholders, from the Great Lakes to the Pacific Northwest and from the Canadian border to Texas. CHS supplies energy, crop nutrients, grain, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products. CHS is listed on the NASDAQ at CHSCP.
About Lansing Trade Group, LLC
Lansing Trade Group is a privately owned firm formed in 1931. The current ownership group has grown Lansing into a national trading company, growing beyond its grain roots with growth into the energy market. Lansing Trade Group formed Lansing Ethanol Services, LLC in March 2006 to trade ethanol. Lansing Trade Group trades whole grains, feed ingredients, and energy products, including biodiesel, in U.S. domestic and export markets. Current annual revenues are approximately $5 billion. Company headquarters are in Overland Park, Kansas. Additional information is available online at www.lansingtradegroup.com and www.lansingethanolservices.com.
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