CALGARY, ALBERTA and MONTREAL, QUEBEC, CANADA — Viterra Inc. and the Montreal Port Authority (MPA) announced on April 21 that they have signed a definitive agreement for Viterra to lease and operate the MPA Grain Terminal.

The MPA Grain Terminal is a Canadian Grain Commission licensed transfer elevator which operates year round and has a storage capacity of 262,000 tonnes. The terminal is located in the deepest inland seaport in North America and has direct access to both CN and CP rail networks. It also provides direct shipping routes to various destinations in Canada, the U.S. and Europe.

"This terminal is an excellent strategic fit within our North American grain handling and marketing operations. Its ideal location enhances our ability to expand Viterra's origination and merchandising capabilities in both Canada and the U.S. and it provides a wide range of logistical options to support efficient movement of high quality food ingredients to key domestic and international markets," said Bob Miller, Viterra's senior vice-president, North American Grain.

The agreement was signed following a selection process led by the MPA, and successful due diligence conducted by Viterra.

"Our agreement with an agri-business company that specializes in grain such as Viterra will make it possible to consolidate and increase grain traffic at the Port of Montreal, and enable the grain terminal to improve its competitive position while still providing high caliber service to Quebec grain producers,” said Sylvie Vachon, president and chief executive officer of the Montreal Port Authority. "Our grain terminal will now operate under the same business model as our other terminals, that is to say, by a specialized private operator, which will contribute greatly to its future success."

Viterra will assume full operation of the terminal on July 1.