Cargill to acquire Madison Energy grain elevator
October 17, 2008
by FoodBusinessNews.net Staff
MINNEAPOLIS — Cargill has signed an agreement to acquire a grain elevator at Madison, Minn., owned by Madison Energy L.L.C., a subsidiary of Glacial Lakes Energy, L.L.C. The grain elevator, which was acquired by Glacial Lakes from CHS in December 2006, is equipped with a grain dryer and features a 1.2-million-bu storage capacity.
Cargill said it expects to begin operating the facility in time to complete this fall’s corn harvest.
"Adding the Madison facility to our regional elevator network increases our flexibility in serving both export and domestic grain markets, expanding the geography in which we can offer Cargill’s range of grain marketing solutions for producers," said Jim Kabisch, farm service group leader for Cargill AgHorizons’ MnKota group in Maynard, Minn. Cargill AgHorizons operates grain elevator facilities in nearby Maynard and Alberta, Minn., and in Vienna, S.D.