North East Terminal to acquire Foam Lake, Saskatchewan crop inputs business from Tri-Way Fertilizer Ltd.

Date: Dec. 16, 2009

Media Contacts:
Garnet Ferguson, gferguson@northeastterminal.com, (306) 338-2999
Ron Bonish, rbonish@triwayfertilizer.com, (306) 333-2244

FOAM LAKE, Saskatchewan - North East Terminal Ltd. has announced that it is acquiring the crop inputs facility of Tri-Way Fertilizers Ltd. in Foam Lake, Saskatchewan. The Foam Lake facility includes a chemical warehouse, two anhydrous fertilizer vessel tanks, rolling stock and fertilizer application equipment, and an 1,100-ton dry fertilizer storage shed. The transaction closed earlier today.

"The Foam Lake asset represents a good fit, given North East Terminal's footprint in this region," said Garnet Ferguson, general manager for North East Terminal Ltd., a crop inputs and grain elevator business with facilities in Kelvington, Ponass Lake, and Wadena, Saskatchewan. "This acquisition will enhance our offerings to area producers, and we will work diligently to provide as seamless a transition as possible in meeting their crop input needs."

Ferguson added that North East Terminal Ltd. has access to new-term debt with its existing lender, if it decides to finance all or a portion of the acquisition cost of the Foam Lake facility.

Founded in 1991, North East Terminal is a widely held, producer-owned grain terminal, with its head office located in Wadena, Saskatchewan. Formed in 1998, Tri-Way Fertilizers is a joint venture between several producer stakeholders and Cargill Limited, with facilities in Abernethy, Balcarres, and Leross, Saskatchewan.

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