16 August 2002

Store take-over bid wins approval

VIKING Grain Storage has approved Grainfarmers bid to take over half of the 40,000t grain store at Colsterworth, Lincs.

At an extraordinary general meeting last month, 95% of members voted in favour of the acquisition, which has now proceeded for an undisclosed sum.

Grainfarmers will use 20,000t of the store for its own members grain, and will also administer and market the entire tonnage handled by Viking Grain Storage, including the grain pool.

The venture is totally separate to Viking Cereals, which went into receivership in April, members of which have accepted a rescue package by Centaur Grain. &#42