Cargill, Cunningham reach agreement

26/09/05 Cargill AgHorizons and Cunningham Fertilizers (1978) Ltd. have announced that the two companies have reached an agreement for Cargill to purchase the remaining shares of the Cunningham crop input business. For nearly a decade, the business has operated as a Joint Venture with Cargill.

The agreement is expected to close on October 1, 2005, following the normal due diligence procedures typical of these types of transactions.

Officials from both companies said the agreement would combine Cargill's resources and expertise in value-based customer relationships with Cunningham Fertilizers' experience in agronomic solutions.

Established in 1952, Cunningham Fertilizers is a privately held company based in Leduc, Alberta. Cunningham employs up to 22 employees during peak season. The company provides crop input products and customer solution agri-services for the surrounding Edmonton and Central Alberta agricultural community.

Cargill AgHorizons operates grain handling and crop inputs facilities in Ontario and across the Prairies, working in partnership with producers to develop grain-marketing and agronomic solutions. AgHorizons is a division of Cargill Limited. Headquartered in Winnipeg, Manitoba, Cargill Limited employs over 6,000 people across the country and has business interests in meat, egg and oilseed processing, animal nutrition, malt, salt, chocolate, natural gas, crop inputs, as well as grain handling and merchandising.