Ceres Global Ag Corp. Announces Riverland Ag Management Changes
Ceres Global Ag Corp. Announces Riverland Ag Management Changes
- Craig Reiners promoted to President & CEO, Riverland Ag;
- Michael Detlefsen appointed Executive Chairman, Riverland Ag;
- Don Grambsch appointed Chairman, Riverland Ag Canada;
- Barclays Capital assisting with Strategic Review of Riverland Ag operation.
Toronto, February 27, 2013 – Ceres Global Ag Corp. (“Ceres”) announced today the appointment of C.R. (Craig) Reiners as President & Chief Executive Officer of Riverland Ag Corp. (“Riverland Ag”), Ceres’ 100% owned grain storage and handling subsidiary, effective April 1, 2013.
Mr. Reiners started his career with Cargill in 1975 in Minneapolis, Minnesota, and held various trading and management positions throughout the United States in corn milling, flour milling, fertilizer and malt. In 1991, he was appointed President & COO, North American Malt. In 1997, he was also appointed President & CEO of Cargill’s malting operations in Canada and the People’s Republic of China. He left Cargill in 2002 to become the VP of Sales, ConAgra Food Ingredients, and in 2005, moved to become Director – Risk Management at Miller-Coors LLC. Mr. Reiners was appointed Chief Operating Officer of Riverland Ag Corp in July, 2011. A native of Canby, Minnesota, Mr. Reiners holds a B.S. in Biology and Chemistry from Augsburg College and an Executive MBA from the Carlson School of Management (University of Minnesota).
“We are pleased to be promoting Mr. Reiners. He has made solid contributions to operational efficiency, enhanced customer relationships, internal team-building and stronger risk management.” said Michael Detlefsen, President of Ceres, and now Executive Chairman of Riverland Ag.
“We would like to thank Mr. Grambsch for his vision and leadership over the past three years. During his tenure as President & CEO of Riverland Ag, Don expanded the footprint of Riverland Ag and initiated several projects which have the potential to add significant value to Ceres,” said Gary Selke, Chairman & CEO of Ceres.
Mr. Grambsch will remain on the Board of Riverland Ag, as well as take on the role of Managing Director, Grains and Logistics Development, Riverland Ag Canada. In his new role, Mr. Grambsch will assist Ceres in the development of current and future business initiatives in both the grain and logistics businesses.
Michael Detlefsen, President of Ceres, has been appointed Executive Chairman of Riverland Ag, and will work closely with Mr. Reiners on strategic and key operational matters.
As announced in December, Ceres is conducting a strategic review of Riverland Ag’s assets and operations. Barclays Capital is assisting in this review. “I look forward to working with Craig and Barclays Capital to finish the strategic review of Riverland Ag, and to accelerate the implementation of initiatives resulting from this review,” Detlefsen said.
About Ceres Global Ag Corp.
Ceres Global Ag Corp. owns 100% of Riverland Ag Corp., owns a 25% interest in Stewart Southern Railway Inc., and is developing the Northgate commodity logistics hub in conjunction with Scoular Grain and several energy company partners. Ceres also has significant capital available to invest in these and related businesses. Riverland Ag Corp. is an agricultural grain storage and handling and supply chain business operating 14 grain storage facilities in Minnesota, North Dakota, Wyoming, New York, Wisconsin and Ontario having aggregate storage capacity of approximately 54 million bushels. Stewart Southern Railway Inc. is a short line rail company that operates in Southeastern Saskatchewan as our commodities logistics division. The Northgate Commodity Logistics Hub is a $90 million grain, oil and oilfield supplies transloading site connected to the Burlington Northern Santa Fe Railroad and expected to open in the fall of 2013. Ceres common shares trade on the Toronto Stock Exchange under the symbol “CRP”.
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