Cargill has sold its Martinsburg, Pa.-based feed mill and grain elevator to Holtwood, Pa.-based Risser Grain LLC.
Under the terms of the agreement, Risser Grain is acquiring the property and assets such as machinery and equipment.
Cargill acquired the Martinsburg facility in January upon securing the winning bid to acquire the feed mill assets of Pennfield Corporation in a bankruptcy proceeding.
Concurrent with the sale, Risser is entering into an agreement with New Enterprise, Pa.-based Key State Ag Service LLC. Under this agreement, Key State will shift its retail agriculture business operations from New Enterprise to the Martinsburg facility, and will manufacture feed products for Cargill from the new location. Risser will operate the grain elevator portion of the facility. All full-time employees affected were offered positions with Key State Ag Service.
"After acquiring the Pennfield operations, it was important for us to sort through and understand the long-term needs of this marketplace," said Rob Sheffer, group director of Cargill Feed & Nutrition U.S. "We wanted to ensure that we partnered with an organization that could provide Cargill and its customers the grain banking solutions that are needed."
Under the terms of the agreement, Risser Grain is acquiring the property and assets such as machinery and equipment.
Cargill acquired the Martinsburg facility in January upon securing the winning bid to acquire the feed mill assets of Pennfield Corporation in a bankruptcy proceeding.
Concurrent with the sale, Risser is entering into an agreement with New Enterprise, Pa.-based Key State Ag Service LLC. Under this agreement, Key State will shift its retail agriculture business operations from New Enterprise to the Martinsburg facility, and will manufacture feed products for Cargill from the new location. Risser will operate the grain elevator portion of the facility. All full-time employees affected were offered positions with Key State Ag Service.
"After acquiring the Pennfield operations, it was important for us to sort through and understand the long-term needs of this marketplace," said Rob Sheffer, group director of Cargill Feed & Nutrition U.S. "We wanted to ensure that we partnered with an organization that could provide Cargill and its customers the grain banking solutions that are needed."
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