The $350 million Northgate crusher would have created more than 50 full\u002Dtime jobs.
Ceres had been among a string of companies announcing planned canola crushing facilities in the province.
Viterra and Cargill have both announced plans to build a crusher in the Regina area. Richardson has also planned to double crush capacity at its Yorkton facility. Federated Co-operatives Ltd. has also announced it wants to build by 2027 a $2 billion agriculture complex that features a biodiesel plant and canola crusher. The company partnered with AGT Foods on the crusher.
Ceres’s announcement could mark a blow to the industry as more crush capacity in the province would help grow the economy. Ceres said it has terminated an equipment design and supply contract related to the project. As a result, it expects an impairment charge in the range of $25 to $30 million.The news seems to be flying at us faster all the time. From COVID-19 updates to politics and crime and everything in between, it can be hard to keep up.
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