|By Cass Rains, Enid News & Eagle, Okla.|
|McClatchy-Tribune Information Services|
Johnston entered into a letter of intent to sell its grain company and related business to
The transaction is expected to close within 35 to 40 days, according to a press release from the companies announcing the sale.
"We are looking forward to being a part of the CGB team," said Johnston CEO
"This exciting combination brings together the forward thinking regional leadership and 120-year history of WBJ with the entrepreneurial CGB expertise and infrastructure," WBJ President
"Butch and I look forward to joining the CGB team and achieving our growth goals together."
WBJ operates 19 grain elevators throughout
"We are excited about the WBJ group of businesses and employees joining the CGB team," said CGB President & CEO
"Our staff plans to work closely with WBJ's customers, suppliers and employees to make the integration process as seamless as possible."
CGB has 74 grain elevators across the Midwest and provides services for producers and manufacturing industries. The company's activities include grain handling and merchandising, soybean processing, crop insurance, fertilizer, agri-finance, feed ingredients, bulk handling and stevedoring, and transportation and logistic services.
The companies expect to close the sale on or about
Johnston's Port 33 was founded by
JP33 operates four ports, two owned and two managed, on the Arkansas and Lower Mississippi rivers.
Johnston has gained a strong reputation for its efficient port operations and management, including its general manager,
Bruce Oakley was founded by Bruce Oakley in 1968 in
Bruce Oakley, led by
(c)2014 the Enid News & Eagle (Enid, Okla.)
Visit the Enid News & Eagle (Enid, Okla.) at www.enidnews.com
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