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CHS signs urea off-take agreement

FBR Staff Writer Published 12 September 2012

CHS, a US-based energy, grains and foods company, has announced that it will be the exclusive off-take company for the urea fertilizer produced by the Summit Texas Clean Energy Project, a plant at Penwell, Texas.

CHS will also be a minor investor in the project. The plant is expected to generate up to 700,000 tons of urea annually.

CHS vice president, crop nutrients Cheryl Schmura said the ability to source high-quality, domestically produced urea will help improve and streamline the company's operations while providing consistent supply to customers throughout the region.

"As a farmer-owned cooperative, CHS is committed to increasing value for our owners and customers through partnerships that optimize our supply chain efficiencies and that fit our business aspiration of global commodities expansion," Schmura said.

The company noted that it was selected for the contract because of its tight linkages to local retailers and growers, market strength and logistical expertise, including rail and truck capabilities to move high tonnage safely and efficiently.

CHS is the nation's leading cooperative, owned by farmers, ranchers and co-ops across the US. It supplies energy, crop nutrients, grain marketing services, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services.