"CHS has carefully considered its successful 12-year partnership with Mitsui in United Harvest and has made the determination that it is best to dissolve the joint venture," said Rick Browne, senior vice-president, CHS Grain Marketing. "We appreciate the significant value United Harvest has provided for CHS and its stakeholders. However, it has become clear that CHS needs to move in a new direction. CHS pledges to continue to uphold its commitment to ensure long-term, competitive market access in the Pacific Northwest for its stakeholders and customers."
The United Harvest joint venture dissolution is expected to be completed on or before May 31, 2011.
Upon United Harvest dissolution, management of the Vancouver, Washington, U.S., export terminal will return to United Grain Corp., and management of the Kalama, Washington, U.S., export terminal will return to CHS.